AN ACT RELATING TO PUBLIC OFFICERS AND EMPLOYEES -- RETIREMENT SYSTEM -- CONTRIBUTIONS AND BENEFITS

SB 449 mandates a re-amortization of the state pension fund, beginning with fiscal year 2026. This means the state will recalculate the payment schedule for its pension fund's outstanding liabilities. The change directly affects the determination of the employer contribution rate paid by the State of Rhode Island into the retirement system for public officers and employees. It amends the section of law that outlines the actuarial cost method used for these contributions and benefits.