§ 28-46-2. Definitions.
As used in this chapter:
(1) "Accrued portion of the normal retirement benefit� means the amount of benefit credited
by the employer to the account of an employee participating in a pension plan, or
where there is no credit, that portion of the normal retirement benefit to which the
director determines actuarially the employee should be entitled based on the covered
service of the employee, as of the date of termination of employment.
(2) "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. Substantial
fluctuations in the number of employees of an employer whose business is of a seasonal
nature shall not be deemed to be a ceasing to operate a place of employment except
to the extent that a substantial reduction in the number of employees of the employer
is attributable to a plan or intention to move the business operations of the employer
outside of the state. When an employer ceases to operate a place of employment but
offers to retain all of the employees at another location within the state, this chapter
shall not apply.
(3) "Covered service� means periods of employment with an employer that are recognized
under the terms of the employer's pension plan for the purposes of determining an
employee's eligibility to receive benefits under the plan or the amount of those benefits.
(4) "Director� means the director of labor and training.
(5) "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.
(6) "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.
(7) "Nonvested pension benefit� means the accrued portion of the normal retirement benefit
of an employee participating in a pension plan to which the employee does not have
a vested right.
(8) "Normal retirement benefit� means that benefit payable under a pension plan in the
event of retirement at the normal retirement age as prescribed by the plan.
(9) "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.
(10) "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.
(11) "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.