ERSRI News

In July, at the close of the 2009 legislative session, the Governor and General Assembly enacted a number of changes to the pension system. As members of this system, it is important that you are well informed of how this new legislation will affect you. While the changes are explained in greater detail inside the newsletter, the following are highlights of some pertinent information:

• If you are currently receiving a monthly pension check, none of the changes apply to you or affect your current pension benefit.
• Changes were also made for options for purchasing service credit. Please contact a customer service representative if you have questions in this area.
• Whether or not certain changes - such as alterations to the cost of living adjustment - will apply to you is dependent on whether you are eligible to retire as of September 30, 2009.
• If you are close to retirement, we encourage you to contact a customer service representative at the Employee Retirement System of Rhode Island office to find out how the changes specifically apply to you. Representatives stand ready to assist you.

As always, customer service is of utmost importance to all of us that work in the Office of the General Treasurer. If you have questions regarding the new pension changes, please call or email the ERSRI staff. We look forward to assisting you.

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