§ 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.
(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.
Structure Rhode Island General Laws
Title 28 - Labor and Labor Relations
Chapter 28-46 - Private Nonvested Pension Benefits
Section 28-46-1. - Short title.
Section 28-46-2. - Definitions.
Section 28-46-3. - Employer tax.
Section 28-46-4. - Employer’s notice of intent to cease operations.
Section 28-46-5. - Investigation by director.
Section 28-46-6. - Compromising nonvested pension benefits.
Section 28-46-7. - Tax liability and lien.
Section 28-46-8. - Employee claims.
Section 28-46-9. - Termination of employees.
Section 28-46-10. - Rules and regulations of director.
Section 28-46-11. - Rules and regulations of the tax administrator.