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-00-00-1.8 - Rules Regarding the Operation and Administration of R.I. Gen. Laws Sections 36-10-18, 36-10-19, 45-21-30 and 45-21-51 Concerning the Right to Revoke or Modify a Retirement Option after Retirement

Universal Citation: 120 RI Code of Rules 00 00 1.8

Current through September 18, 2024

A. Introduction

1. These Administrative Rules pertaining to the right of a retired member to revoke or modify their retirement option after retirement are promulgated pursuant to R.I. Gen. Laws § 36-8-3. The Rules shall be applicable to all changes requested pursuant to R.I. Gen. Laws §§ 36-10-19 and 45-21-30.

2. This Regulation does not apply to retired members who selected to receive retirement benefits per the Maximum Plan or the Social Security Option provisions or to members of either the Judicial Retirement Plan or the State Police Retirement Plan.

B. Definitions

1. Retired Member

A member of the Employees Retirement System of Rhode Island or the Municipal Employees Retirement System whose application for retirement benefits has been approved by the Retirement Board.

C. Revocation/Modification of Retirement Option Selection

1. Only retired members who have selected to receive retirement benefits pursuant to Option One or Option Two shall be entitled to revoke or modify their retirement option.

2. A retired member may exercise their right to revoke or modify their retirement option selection only one time. Additional requests to revoke or modify an individual's retirement selection are not permitted.

3. Retired members who are receiving retirement benefits per the Maximum Plan or the Social Security Option are not entitled to change their retirement option selection.

4. A retired member may revoke their selection of Option One or Option Two and select the Maximum Plan.

5. A retired member may modify their selection from Option One to Option Two or from Option Two to Option One.

6. Notice of modification or revocation must be filed with and approved by the Retirement System prior to the commencement of divorce proceedings against or by the named beneficiary being filed in the Rhode Island Family Court or in a foreign court of equal jurisdiction.

D. Process of Revocation/Modification

1. A retired member seeking revocation or modification of their retirement benefits must complete and return the form prescribed by the Retirement System. No action will be taken on an oral request to revoke or modify a retired member's benefits.

2. Revocation or modification will become effective in the month following receipt of the signed form by the Retirement System.

3. Any request for modification or revocation of benefits described in § 1.8(C) of this Part above must be received prior to the death of the retired member or if sent by mail, post marked prior to the death of the retired member.

Disclaimer: These regulations may not be the most recent version. Rhode Island may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

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