§ 36-13-1. Deferred compensation plans authorized. (a) The state or any city, town, or other political subdivision may, by contract, agree with any employee to defer, in whole or in part, any portion of that employee’s compensation, and may subsequently contract with financial institutions for the purchase of government securities or with other financial entities […]
§ 36-13-1.1. State investment commission. The state investment commission shall, from time to time, select the financial institutions and/or entities in which the state shall invest the funds under the deferred compensation plan for state employees. History of Section.P.L. 1995, ch. 182, § 2; P.L. 1995, ch. 225, § 2.
§ 36-13-2. Entering into agreements. The chief administrative officer of any city or town or director of administration of the state of Rhode Island is hereby authorized to enter into contractual agreements with employees of that particular state agency, department, board, commission, or institution on behalf of the state to defer any portion of that […]
§ 36-13-3. Administration of program. The administration of the deferred compensation program within each state agency, department, board, commission, or institution shall be under the direction of the director or principal officer of that particular agency, department, board, commission, or institution. Each city, town, or other political subdivision shall designate an officer to administer the […]
§ 36-13-4. “Employee” defined. For the purposes of this chapter, “employee” means any person, whether appointed, elected or under contract, providing services for the state, county, city, town, or other political subdivision, for which compensation is paid. History of Section.P.L. 1975, ch. 34, § 1.
§ 36-13-5. Annuity and insurance contracts. Notwithstanding any other provision of law to the contrary, those persons designated to administer the deferred compensation program are hereby authorized to make payments for the purchase of government securities, mutual funds, fixed or variable life insurance, or annuity contracts under the deferred compensation program. The payments shall not […]
§ 36-13-6. Other benefits unaffected. The deferred compensation program established by this chapter shall exist and serve in addition to retirement, pension, or benefit systems established by the state, county, city, town, or other political subdivision, and no deferral of income under the deferred compensation program shall affect a reduction of any retirement, pension, or […]
§ 36-13-7. Financial liability limitations. The financial liability of the state, city, town, or other political subdivision under a deferred compensation program shall be limited in each instance to the value of the particular fixed or variable life insurance or annuity contract or contracts purchased on behalf of any employee. History of Section.P.L. 1975, ch. […]
§ 36-13-8. Severability. If any provision of this chapter or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of the chapter, which can be given effect without the invalid provisions or application, and to this end the provisions of this chapter are declared […]
