ARTICLE III. - POLICE DEPARTMENT PENSION PLAN

Footnotes:

--- (3) --- Cross reference— Police department, § 42-21 et seq.

State Law reference— Optional retirement for members of police force G.L. 1956, § 21.2-1 et seq.

Sec. 58-81. - Established.#

There is hereby established by the town council, upon the terms and conditions set forth in this article, a pension plan for those members of the police department who are currently employed as police officers and who are covered by the terms of the pension system enacted pursuant to the Public Laws of 1945, chapter 1666.

(Code 1986, § 16-50; Ch. 708, § 1, 10-5-1992; Ch. 816, § 16-50, 5-20-2002)

Sec. 58-82. - Eligibility.#

The provisions of the pension plan provided for in this article shall only apply to those members of the police department who are employed as police officers as of the effective date of the ordinance from which this article is derived and who are also covered by the terms of the pension system enacted pursuant to the Public Laws of 1945, chapter 1666. This article and the benefits established by it shall not be applicable to any other members of the police department or any retired members of the police department who are receiving or have received benefits pursuant to Public Laws of 1945, chapter 1666.

(Code 1986, § 16-51; Ch. 708, § 1, 10-5-1992; Ch. 816, § 16-51, 5-20-2002)

Sec. 58-83. - Normal retirement.#

Any member of the police department who is eligible to participate in this pension plan and who has served on the police department for a period of 20 years or more may apply to the town council to be placed on the pension list. If the town council shall determine that the member meets the qualifications and requirements of this article, the town council shall place the member on the pension list and the member shall be entitled to the benefits provided for this article.

(Code 1986, § 16-52; Ch. 708, § 1, 10-5-1992; Ch. 816, § 16-52, 5-20-2002)

Sec. 58-84. - Disability retirement.#

The town council shall have the right to place any member of the police department who is eligible to participate in this pension plan on the pension list provided for in this article if the town council finds that the member, as a result of clearly proven physical or mental infirmities, has become unfit to perform active police duty.

(Code 1986, § 16-53; Ch. 708, § 1, 10-5-1992; Ch. 816, § 16-53, 5-20-2002)

Sec. 58-85. - Benefits payable.#

Any member of the police department who is placed on the pension list pursuant to the terms of this article shall receive from the town an annual pension for the rest of the member's natural life in an amount equal to one-half of the member's annual pay for the last year of service on the police department.

(Code 1986, § 16-54; Ch. 708, § 1, 10-5-1992; Ch. 816, § 16-54, 5-20-2002)

Sec. 58-86. - Funding.#

The town council shall appropriate annually the amounts required to fund the benefits set forth in this pension plan.

(Code 1986, § 16-55; Ch. 708, § 1, 10-5-1992; Ch. 816, § 16-55, 5-20-2002)

Sec. 58-87. - Conditions to establishment of pension plan.#

All of the provisions of this article shall be subject to and shall not take effect until the following terms and conditions have been complied with: (1)

All members of the police department eligible for participation in this pension plan shall submit to the town a statement terminating and waiving any rights the member may have pursuant to the Public Laws of 1945, chapter 1666.

(2)

All members of the police department eligible for participation in this pension plan shall agree in writing to waive the allotment due to them pursuant to section XXVI, subparagraph (E) of the Collective Bargaining Agreement entered into between the Town of Narragansett and Local 303, International Brotherhood of Police Officers and, further, agree and consent to an amendment to the Collective Bargaining Agreement deleting section XXVI, subparagraph (E).

(Code 1986, § 16-56; Ch. 708, § 1, 10-5-1992; Ch. 816, § 16-56, 5-20-2002)

Sec. 58-88. - Cost of living adjustment.#

All employees who are members of the pension plans provided for in this chapter and who retire on or after July 1, 2002, shall, subject to the terms and conditions set forth in this section, receive a cost of living allowance (COLA). The COLA shall be a three percent compounded COLA applied to the pension benefit, and it shall be added as of July 1 of each applicable year. (1)

All municipal employees, except employees of the school department, shall receive an annual three percent compounded COLA beginning on July 1 of the year that the employee turns 58 years old.

(2)

All firefighters shall receive an annual three percent compounded COLA beginning on July 1 of the year that the firefighter turns 52 years old.

(3)

All police officers shall receive an annual three percent compounded COLA beginning on July 1 of the year that the employee turns 52 years old or July 1 of the year that is the fifth anniversary of the police officer's retirement, whichever occurs first.

(Ch. 816, § 16-57, 5-20-2002)