What is the law concerning retirement benefits?

In Rhode Island, state law dictates that employers have to provide retirement benefits to employees who have worked for them for more than five years. Employees are also often allowed the option to join a retirement plan of their choosing, either a 401K or pension plan. Retirement benefits often include a vested portion, meaning the employee is entitled to a certain portion of the benefit immediately, as well as a non-vested portion, which they are only entitled to after they have been employed for a certain length of time. Rhode Island also offers the RI Deferred Compensation Program, which is designed to help supplement retirement benefits offered by an employer. This program allows employers to allow their employees to contribute to their retirement savings in a tax-advantaged way. The RI Deferred Compensation Program also provides a variety of investment options so that employees can make the most of their contributions. Overall, Rhode Island law provides a variety of retirement benefit options for employers to offer to their employees. These benefits can help employees save for retirement and provide security for them in their later years.

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What is the law concerning retirement benefits?

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