§ 16-16-42 Life insurance benefits. –
Notwithstanding any other provision of law to the contrary, any member who, at
the time of retirement from service, has in effect life insurance provided for
as a benefit of his or her employment shall, after retirement, be entitled to
keep the policy of life insurance in effect by paying to the city or town an
amount equal to the annual cost of the policy for the individual at the time of
the individual's retirement. The policy of insurance shall remain in effect for
so long as the member continues to make annual payments.
(P.L. 1986, ch. 492, § 2; P.L. 1987, ch. 580, § 2.)