Rhode Island General Laws Title 35. Public Finance § 35-23-2. Definitions

(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:

(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 state's 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 § 35-23-10.

(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 state's 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.