Rhode Island General Laws Title 35. Public Finance § 35-23-8. Disclosure of information

(a) Prior to opening the RISavers retirement savings program for enrollment, the office of the general treasurer shall design and disseminate to employers an employee information packet that shall also be made available in an electronic format. The packet shall include background information on the program and appropriate disclosures for employees.

(b) The disclosure form shall include, but not be limited to, all of the following:

(c) In addition, the disclosure form shall clearly articulate the following:

(d) The disclosure form shall include a method for the employee to acknowledge that the employee has read all of the disclosures and understands their content.

(e) The employee information packet shall also include an opt-out form for an eligible employee to note their decision to opt out of participation in the program. The opt-out form shall be simple and concise and drafted in a manner that the office of the general treasurer deems necessary to appropriately evidence the employee's understanding that they are choosing not to automatically deduct earnings to save for retirement.

(f) The employee information packet with the disclosure and opt-out forms shall be made available to eligible employees by the RISavers retirement savings program and supplied to employees no later than one hundred twenty (120) days after hiring. All new employees shall review the packet and acknowledge having received it.

(g) The employee information packet with the disclosure and opt-out forms shall be supplied to existing employees when the program is initially launched for a participating employer.