Rhode Island General Laws 28-46-12. Funds not to be attached
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The funds of any employer that are set aside or reserved for benefits under a pension plan of the employer to which employees have a vested right shall not be liable to be seized or taken by virtue of any execution or civil process whatever, issued out of any court of this state, for the collection of the tax imposed by this chapter.
History of Section.
P.L. 1974, ch. 295, § 1.
Terms Used In Rhode Island General Laws 28-46-12
- 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
- Pension plan: means any plan, fund, or program established, maintained, or entered into by an employer for the purpose of providing for its employees, or their beneficiaries, retirement benefits. See Rhode Island General Laws 28-46-2
- Vested right: means a nonforfeitable, legal right obtained by an employee participating in a pension plan to that part of an immediate or deferred pension benefit which arises from the employee's covered service under the plan and is no longer contingent on the employee remaining covered under the plan. See Rhode Island General Laws 28-46-2