In-active Member:

A member who is no longer employed in a public position (by a member agency) but has not taken a refund of contributions. If the member is vested, he or she is eligible for deferred retirement benefits at a certain age, even though they are not ‛active’ members.

Health Care Eligibility:

Health care coverage is offered to retired state workers and public school teachers by the State of Rhode Island. To learn more about this topic, see Health Care Info.

Federally Funded Contributions:

The contributions that are paid by the federal government. For Teachers/Certified only.

Federally Funded Wages:

The portion of an employee’s wages that are federally Funded. For Teachers/Certified only.

Final Average Salary:

The average of the three or five highest years of earnings, regardless of when they occur.

Eligible Wages:

The wages earned by the member while working for a member agency that are used to calculate the member’s contributions.

Employee Contributions:

The contributions that are withheld from an employee’s paycheck.

Employer Contributions:

The contributions that are paid by employers on behalf of the employee

Employer Reported Wages:

The portion of an employee’s wages that are paid by the employer.

Death Benefit:

For ERSRI or MERS members, the benefit is $800 per year of service, up to a maximum $16,000. This amount is reduced 25% every year after retirement, but not below the minimum benefit of $4,000.

Even if you’ve chosen an option where your pension ends when you die, your beneficiary is still entitled to a standard death benefit.

Death Benefits Beneficiary:

This is the person named as a beneficiary for the standard death benefit of an active or retired member.

Deferred Retirement Benefit:

If you have left your contributions within the system, you may apply to begin collecting a retirement benefit when you reach your age of eligibility. Contact ERSRI 6-12 months prior to reaching this age.

COBRA:

COBRA is a federal law that allows employees who are losing their medical coverage to purchase from their employer, at full cost and for up to 18 months, the same benefits that they received as an active employee.

Contingent Beneficiary:

A contingent beneficiary is identified by a member and receives the member’s benefits upon the death of the member and all primary beneficiaries.

Contributing Service Credit:

The amount of service earned by a member while worked for a member agency that counts towards the calculation of the member’s benefit amount upon retirement. Service credit purchases are not considered contributing service.

Contributions:

Money withheld from a member’s paycheck to contribute towards the member’s retirement. The amount that is contributed is based upon a percentage of the member’s salary, excluding overtime.

Cost of Living Adjustment (COLA):

A cost of living increase of up to 3% may be granted to retired members. The administrators of the plan to which the member belongs make the determination on when this increase is to be given.