TITLE 36
Public Officers and Employees
CHAPTER 36-9
Retirement SystemMembership and Service Credits
SECTION 36-9-48
§ 36-9-48 Underground storage tank
financial review board Transferred employees.
(a) Definitions. For the purposes of this section:
(1) "UST Board" means the Rhode Island Underground Storage
Tank Financial Review Board, a governmental agency and a public instrumentality
of the state of Rhode Island.
(2) "Transfer date" means July 1, 2006.
(3) "Transferred employee" means any individual who was an
employee of the UST Board of the state of Rhode Island on the date immediately
preceding the transfer date, and who became an employee of the state of Rhode
Island, department of environmental management on the transfer date.
(b) Transferred employees who return to employment with the
state of Rhode Island directly from uninterrupted employment with the Rhode
Island Underground Storage Tank Financial Responsibility Review Board shall
have their length of service at the UST Board deemed to be uninterrupted active
state service for the purposes of service credits in the state retirement
system.
(c) The period of service of any transferred employee from
December 29, 2002, to the date of transfer shall be treated as service as an
employee of the state of Rhode Island for the purposes of chapters 8, 9 and 10
of this title.
(d) The provisions of subsection (b) of this section shall
not apply unless within ninety (90) days following the date of enactment of
this section [July 1, 2006], the UST Board transfers, or causes to
have transferred from a trustee or other custodian, to the retirement system,
an amount equal to the sum of the employees contribution accumulation and the
employer contribution accumulation. The amount of transfer shall be determined
by the retirement board at full actuarial cost as defined by Rhode Island
general law subdivision 36-8-1(10) for the period of service December 29, 2002,
to the transfer date. This will be reduced by the transfer to the retirement
board of any and all contributions made to the UST Board's Simple IRA by and on
behalf of the transferred employees.
(e) Transferred employees who return to service with the
state of Rhode Island directly from uninterrupted employment with the Rhode
Island Underground Storage Tank Financial Review Board, henceforth referred to
as "UST Board" shall have their length of service at the UST Board deemed to be
uninterrupted active state service for purposes of service credits in the state
retirement system.
History of Section.
(P.L. 2006, ch. 246, art. 27, § 4; P.L. 2012, ch. 415, § 6.)
