§ 45-21-1 - Purpose of chapter.
SECTION 45-21-1
§ 45-21-1 Purpose of chapter. – It is the express intention of the legislature by the passage of this chapterto provide an actuarially financed retirement system for municipal employees,properly integrated with the federal Social Security Act, 42 U.S.C. § 301et seq., to the end that adequate benefits may be established for the employeesof any municipality who become superannuated or otherwise incapacitated whilein service, and whereby the employees may be assisted in accumulating reservesfor themselves and their dependents to satisfactorily meet the conditionsincident to old age, death, disability, and termination of the employees, inthe interest of maintaining and promoting efficiency and economy in theadministration of government.