AN ACT RELATING TO TOWNS AND CITIES -- OPTIONAL RETIREMENT FOR MEMBERS OF POLICE FORCE AND FIREFIGHTERS

SB 2090 changes retirement benefit calculations for police officers and firefighters employed by towns and cities. Starting July 1, 2026, their retirement allowance will be based on their accrued benefit as of June 30, 2026, plus 2.5% of their final compensation for each year of service after that date. Retirees who are 57 with at least 30 years of service will continue using the previous formula until 2026 and then switch to the new calculation for service after that date. The bill preserves existing options for how benefits are paid to survivors after retirement.