ERSRI online is your source for the latest information from the Employees’ Retirement System of Rhode Island, the state’s largest public employee retirement system. The $8 billion retirement system handles pension issues for state employees, teachers, the Municipal Employees’ Retirement System (MERS), MERS police and fire, correctional officers, BHDDH nurses, state police and judges.
Here, you'll find the latest tools to help you plan for your retirement, calculate your benefits and eligibility, and understand how laws and regulations may affect you.
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News and Updates
Questions about retiree healthcare should be directed to the Office of Employee Benefits. You can reach that office at (401) 222-3160.
New Retirement Board Member
The Retirement Board recently swore in a new member, replacing Carl Heintzelman. Mark Carruolo, Chief of Staff to Warwick Mayor Avedisian was appointed by Governor Chafee to the Retirement Board.
58 MERS Plans to Receive COLA in 2015
Fifty-eight municipal pension plans are slated to provide cost-of-living adjustments (COLA) in 2015. Members of these plans, who retired before June 30, 2012 and were previously receiving or eligible for a COLA are now eligible to receive a COLA the month following their retirement date anniversary in 2015.
These plans, part of the Municipal Employees’ Retirement System, were actuarially calculated to be over 80 percent funded for the fiscal year ending June 30, 2014. Eligible retirees of these 58 plans will see an increase of 2.73 percent on the first $25,168 of their annual pension benefit for calendar year 2015.
For those who retired after June 30, 2012, COLA eligibility is either your Social Security Normal Retirement Age or if you retired at that age, three years after your retirement date. Click here for COLA FAQs.
For a list of the 58 MERS plans providing COLAs, click here.
Are you planning to retire within the next six months? If so, ERSRI offers group counseling at our Warwick office. A benefit estimate and retirement forms are provided at the group sessions. Schedule your appointment three to six months before retirement by contacting the center at 401-462-7600.