§ 35-23-2. Definitions.
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RI Code › Title 35 › Chapter 35-23 › Section 35-23-2
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As used in this chapter:
(1) Eligible employee means a person age eighteen (18) years or older who is employed by an eligible or optional employer and has been employed for a period of not less than one hundred twenty (120) days. Eligible employee does not include:
(i) Any employee covered under the federal Railway Labor Act (45 U.S.C. §§ 151164 and 45 U.S.C §§ 181188), or any employee engaged in interstate commerce not subject to the legislative powers of the state, except insofar as application of this chapter is authorized under the United States Constitution or laws of the United States; or
(ii) Any employee on whose behalf an employer makes contributions to a Taft-Hartley pension trust fund.
(2) Eligible employer means a person or entity engaged in a business, industry, profession, trade, or other enterprise in the state, whether for-profit or not-for-profit, excluding the federal government, the state, any municipal corporation, or any of the states units or instrumentalities, that has five (5) or more employees and that satisfies the requirements to establish or participate in a payroll deposit retirement savings arrangement. Eligible employer does not include an employer that provides a tax-qualified retirement savings program as described in § 35-23-9.
(3) IRA means an individual retirement account or individual retirement annuity under 26 U.S.C § 408 or § 408A (the federal Internal Revenue Code).
(4) Optional employer means a person or entity engaged in a business, industry, profession, trade, or other enterprise in the state, whether for-profit or not-for-profit, excluding the federal government, the state, any municipal corporation, or any of the states units or instrumentalities, that has under five (5) employees.
(5) Participating employer means an eligible or optional employer that provides a payroll deposit retirement savings arrangement provided for by this chapter for eligible employees.
(6) Payroll deposit retirement savings arrangement means an arrangement by which an employer allows employees to remit payroll deduction contributions to the RISavers retirement savings program.
(7) RISavers retirement savings program or program means a retirement savings program offered by the Rhode Island secure choice retirement savings program.
(8) State investment commission or commission means the state investment commission established pursuant to the provisions of § 35-10-1.
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.