§ 45-21-60 - Pensioners and beneficiaries of Plan No. 3023 – Town of North Kingstown.
SECTION 45-21-60
§ 45-21-60 Pensioners and beneficiaries ofPlan No. 3023 – Town of North Kingstown. – (a) All municipal retirees of the town of North Kingstown and the beneficiariesof municipal retirees of the town of North Kingstown are given a one-timepercentage increase to their original retirement benefit in multiples of twopercent (2%) as follows up to a maximum of twenty percent (20%).
YEAR OF RETIREMENT % OF INCREASE
1989 2%
1988 4%
1987 6%
1986 8%
1985 10%
1984 12%
1983 14%
1982 16%
1981 18%
1980 20%
YEARS PRIOR TO 1980 20%
(b) The additional percentage is incorporated into therecipients' monthly benefit retroactive to July 1, 1990.
(c) The provisions of this section are not applicable to anyemployees who retired under the provisions of chapter 21.2 of this title.