Rhode Island General Laws 28-46-6. Compromising nonvested pension benefits
(a) As part of the investigation of an employer, the director shall determine the amount of nonvested pension benefits that have been compromised or settled to his or her satisfaction.
Terms Used In Rhode Island General Laws 28-46-6
- Ceases to operate a place of employment: means either the complete termination of operations at a place of employment or a substantial reduction in the number of employees at a place of employment as part of a plan or in connection with an intent to move the business operations at that place of employment outside of the state. See Rhode Island General Laws 28-46-2
- Director: means the director of labor and training. See Rhode Island General Laws 28-46-2
- Employee: means any person employed at the place of employment during the year prior to the date when the employer ceases to operate the place of employment. See Rhode Island General Laws 28-46-2
- Employer: means any person, firm, or corporation who or that employs ten (10) or more people within this state at any time within one year prior to the date that it ceases to operate a place of employment. See Rhode Island General Laws 28-46-2
- Place of employment: means any location within this state at which ten (10) or more persons are employed at any time within one year prior to the date that the employer ceases to operate at that location. See Rhode Island General Laws 28-46-2
(b) Nonvested pension benefits may be compromised or settled by:
(1) Agreement between the employer and employee that is mutually understood by both parties to be a complete and final satisfaction of those benefits; or
(2) A provision in a collective bargaining agreement to which both the employer and employee are a party concerning the disposition of pension benefits in case the employer ceases to operate a place of employment or providing a benefit to the employee contingent upon the employer ceasing to operate a place of employment.
History of Section.
P.L. 1974, ch. 295, § 1.