§ 36-9-48 - Underground storage tank financial review board – Transferred employees.
SECTION 36-9-48
§ 36-9-48 Underground storage tankfinancial review board – Transferred employees. – (a) Definitions. For the purposes of this section:
(i) "UST Board" means the Rhode Island Underground StorageTank Financial Review Board, a governmental agency and a public instrumentalityof the state of Rhode Island.
(ii) "Transfer date" means July 1, 2006.
(iii) "Transferred employee" means any individual who was anemployee of the UST Board of the state of Rhode Island on the date immediatelypreceding the transfer date, and who became an employee of the state of RhodeIsland, department of environmental management on the transfer date.
(b) Transferred employees who return to employment with thestate of Rhode Island directly from uninterrupted employment with the RhodeIsland Underground Storage Tank Financial Responsibility Review Board shallhave their length of service at the UST Board deemed to be uninterrupted activestate service for the purposes of service credits in the state retirementsystem.
(c) The period of service of any transferred employee fromDecember 29, 2002, to the date of transfer shall be treated as service as anemployee of the state of Rhode Island for the purposes of chapters 8, 9 and 10of this title.
(d) The provisions of subsection (b) of this section shallnot apply unless within ninety (90) days following the date of enactment ofthis section [July 1, 2006], the UST Board transfers, or causes tohave transferred from a trustee or other custodian, to the retirement system,an amount equal to the sum of the employees contribution accumulation and theemployer contribution accumulation. The amount of transfer shall be determinedby the retirement board at full actuarial cost as defined by Rhode Islandgeneral law § 36-8.1-9 for the period of service December 29, 2002, to thetransfer date. This will be reduced by the transfer to the retirement board ofany and all contributions made to the UST Board's Simple IRA by and on behalfof the transferred employees.
(e) Transferred employees who return to service with thestate of Rhode Island directly from uninterrupted employment with the RhodeIsland Underground Storage Tank Financial Review Board, henceforth referred toas "UST Board" shall have their length of service at the UST Board deemed to beuninterrupted active state service for purposes of service credits in the stateretirement system.