The general assembly finds and declares the following: (1) All Rhode Islanders deserve retirement security, including those who have spent their careers serving their communities as first responders, school, and municipal employees; (2) The town of West Warwick’s pension plans are currently in “critical status” as defined in § 45-65-4 which resulted in the town of West Warwick undergoing pension reform in 2014 and the submission of a funding improvement plan in accordance with § 45-65-6; (3) The town of West Warwick, the West Warwick school department, the labor and other organizations representing its employees, first responders, and retirees, and the state of Rhode Island are united in their desire to see the town of West Warwick remain on the path of fiscal health, and that the predictability and sustainability of the pension system is vital to maintaining fiscal health for the town of West Warwick and retirement security for its employees, first responders and retirees; and (4) The general assembly adopts this chapter to facilitate the assistance of the municipal employees’ retirement system (MERS) of the state of Rhode Island in administering the local West Warwick pension plans.
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