1.     Changes to the Final Average Salary (“FAS”) Formula

• Who it applies to: State employees, teachers, and municipal employees (including municipal public safety)
• What it does: Modifies a member’s FAS from the average highest five (5) consecutive years of compensation to the average highest three (3) consecutive years of compensation
• When Effective: Employees in the above groups with retirement dates on

As part of your retirement plan at the State of Rhode Island, you can meet with a TIAA financial consultant at no additional cost. Whether just starting out or ready to retire, a session with TIAA can help you with your goals.

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