Rhode Island Code of Regulations
Title 120 - Treasury Department
Chapter 00 - N/A
Subchapter 00 - N/A
Part 1 - Employees' Retirement System of Rhode Island and Municipal Employees' Retirement System Regulations
Section 120-RICR-00-00-1.18 - Regulation Regarding Post-Retirement Employment

Universal Citation: 120 RI Code of Rules 00 00 1.18

Current through September 18, 2024

A. Introduction

This Administrative Regulation shall serve as a statement of policy pertaining to the Retirement Board's interpretation of laws related to post-retirement employment, previously affirmed by the Retirement Board at its meeting of January 10, 2001, and is promulgated pursuant to R.I. Gen. Laws § 36-8-3. This Regulation shall be applicable to all members of the Employees' Retirement System of the State of Rhode Island and the Municipal Employees' Retirement System of the State of Rhode Island who are receiving a pension benefit under the provisions of R.I. Gen. Laws Chapters 36-8 through 36-10, 16-16, or 45-21 and 45-21.2.

B. Statement of Policy

1. The Retirement Board has noted the increased prevalence of retired members attempting to circumvent the restrictions on post-retirement employment contained in the Rhode Island General Laws, including R.I. Gen. Laws §§ 36-10-36, 16-16-24, and 45-21-54, by utilizing the form of a legal business organization, or by becoming employees of private business organizations or entities. At the Retirement Board meeting on January 10, 2001, the Retirement Board voted as follows:
a. VOTED: To accept the recommendation of the Rules and Regulations committee that the intention of the law and the Regulations of the Retirement Board, a person may not do as a corporation, or as an employee of a corporation, what an individual cannot do.

2. This has remained the policy and practice of the Retirement Board since adoption on January 10, 2001. The Retirement Board, by virtue of the instant Regulation, now formally codifies, clarifies and confirms the statement previously adopted on January 10, 2001 as follows:
a. Members may not utilize the legal form of a business organization, or employment by a private business entity or organization, as a means of circumventing the post-retirement employment restrictions set forth in the Rhode Island General Laws. The Retirement Board will endeavor, wherever appropriate, to extend post-retirement employment restrictions to members seeking or engaged in post-retirement employment both in their individual capacities, and to the extent that a member seeks to engage in otherwise prohibited post-retirement employment by virtue of becoming a business organization or an employee of a business organization.

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