Determination of endangered status
Known as the Rhode Island Pension Protection Act
The act spans §§ 36–36 (11 sections).
P.L. 2011, ch. 408, § 8; P.L. 2011, ch. 409, § 8.
A plan is in endangered status for a plan year if the retirement board determines, in consultation with the plan actuary, that the plan:
(i) Has a funded percentage of fifty percent (50%) or less;
(ii) The plan’s funded percentage has decreased for five (5) consecutive plan years.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.