All municipal employees (except for Uniform Police hired prior to 7/1/2014 and all Firefighters) are required to become members of a hybrid pension system to include the Municipal Employees Retirement System of the State of Rhode Island and TIAA Financial Services. Employee pre-tax contributions include: for Municipal Employees - two percent (2%) to MERS (defined benefit plan) and five percent (5%) to TIAA (defined contribution plan); for Police Officers (hired after 7/1/2014) - nine percent (9%) to MERS (defined benefit plan) and three percent (3%) to TIAA (defined contribution plan).
Police Officers (hired prior to 7/1/2014) and Firefighters are required to become members of the City of Newport's Retirement system. Police Officers (hired prior to 7/1/2014) contribute eight percent (8%) of their regular salary to this plan while Firefighters contribute nine percent (9%) of their regular salaries on a bi-weekly basis.
For more information regarding the municipal employee's pension system, please visit their web sites:
Got a question? Call (401) 462-7600 to speak with an ERSRI staff member
ERSRI is located at 50 Service Avenue, Warwick, RI 02886
Click on the above link to access the slide presentation prepared by the Employees' Retirement System of RI
For General Municipal Employees - (MERS)
Got a question? Call (401) 276-3700 or 888-842-2249
TIAA local office is located at 15 Park Row West, Suite 102, Providence, RI 02903