Source: https://ribit.rofreg.com/legislations/436
Timestamp: 2019-10-14 23:54:02
Document Index: 682663650

Matched Legal Cases: ['§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§16', '§16']

House Bill #5071 (2017)
2017-01-11: Introduced, referred to House Finance
2017-05-19: Scheduled for hearing and/or consideration (05/24/2017) [Show]
2017-06-15: Referred to Senate Finance
2017 – H 5071
2017 – H 5071 SUBSTITUTE A
LC000046
LC000046/SUB A
Introduced By: Representatives Amore, Cunha, Craven, Kazarian, and Marshall
16-16-26. Spouse's or domestic partner's benefits. – (a) Spouse's and domestic partner's benefits are payable following the decease of a member as provided in §§ 16-16-25 through 16-16-38. (b) The spouse or domestic partner shall be entitled to benefits upon attaining the age of sixty (60) years. (c) The spouse or domestic partner was living with the deceased member at the time of the member's death. A spouse or domestic partner is deemed to have been living with the deceased member if they were both members of the same household on the date of the deceased member's death, or the spouse or domestic partner was receiving regular contributions from the deceased member toward support on that date, or the deceased member had been ordered by a court to contribute to the spouse's or domestic partner's support. (d) Remarriage of the spouse or domestic partner or establishment of a domestic partnership shall render him or her ineligible to receive current or future benefits under this section. (e) The spouse or domestic partner of a member, as defined in this section, shall be entitled to monthly benefits payable in accordance with the following table: Highest Annual Salary Spouse's or Domestic Partner's Monthly Minimum Benefit $17,000 33,000 or less $750 1,267 $17,001 33,001 to $25,000 40,000 875 $1,425 $25,001 40,001 to $33,000 50,000 1,000 $1,583 $33,001 to $40,000 1,125 $40,001 50,001 and over 1,250 $1,900
(f) A yearly cost-of-living adjustment for spouse's or domestic partner's benefits shall be based on the annual social security adjustment. On January 1 of each year, the minimum benefit amount provided by this section shall be annually adjusted for cost-of-living using the previous year's social security adjustment.
16-16-26. Spouse's or domestic partner's benefits. – (a) Spouse's and domestic partner's benefits are payable following the decease of a member as provided in §§ 16-16-25 through 16-16-38. (b) The spouse or domestic partner shall be entitled to benefits upon attaining the age of sixty (60) years. (c) The spouse or domestic partner was living with the deceased member at the time of the member's death. A spouse or domestic partner is deemed to have been living with the deceased member if they were both members of the same household on the date of the deceased member's death, or the spouse or domestic partner was receiving regular contributions from the deceased member toward support on that date, or the deceased member had been ordered by a court to contribute to the spouse's or domestic partner's support. (d) Remarriage of the spouse or domestic partner or establishment of a domestic partnership shall render him or her ineligible to receive current or future benefits under this section. (e) The spouse or domestic partner of a member, as defined in this section, shall be entitled to monthly benefits payable in accordance with the following table: Highest AnnualSalary Spouse's or Domestic Partner's Monthly Minimum Benefit $17,000 or less $750 825 $17,001 to $25,000 875 963 $25,001 to $33,000 1,000 $1,100 $33,001 to $40,000 1,1251,238 $40,001 and over 1,250 $1,375
(f) A yearly cost-of-living adjustment for spouse's or domestic partner's benefits shall be based on the annualsocial security adjustment.
(b) In the event the market value of the Teachers' Survivor Benefit Plan assets shall decrease below one hundred and twenty (120%) one hundred (100%) percent of the Teachers' Survivor Benefit Plan liabilities as reported by a qualified actuary pursuant to § 16-16-37, the retirement board shall determine and fix the amount of contributions necessary to maintain a funding level of not less than one hundred and twenty (120%) one hundred (100%) percent of assets to liabilities ratio. Any adjusted cost of the benefits provided in §§ 16-16-25 – 16-16-38 shall be paid for by the member by deduction from his or her salary. These contributions shallbe in addition to the contributions provided in § 16-16-22 and shall be paid into the teachers' survivors benefit fund created by §§ 16-16-25 – 16-16-38 in the same manner as contributions are made under the provisions of § 16-16-22; provided, however, that payments to compensate for asset to liability ratios less than one hundred (100%) percent shall be amortized over individual ten (10) year close periods. Notwithstanding anything to the contrary in this chapter or in any other provision of Rhode Island law, no benefit enhancements, beyond the current provisions within §§16-16-25 through 16-16-38, shall be granted until the market value of the Teachers' Survivor Benefit Plan assets shall increase above one hundred and twenty (120%) percent of the Teachers' Survivor Benefit Plan liabilities as reported by a qualified actuary pursuant to §16-16-37.
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SECTION 3. This act shalltake effect upon passage. ======== LC000046/SUB A ========
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This act would take effect upon passage. ======== LC000046 ========
This act would take effect upon passage. ======== LC000046/SUB A ========
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June 15, 2017 at 4:43pm