2012 -- S 2342

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LC01183

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STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2012

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A N A C T

RELATING TO LABOR AND LABOR RELATIONS - WAGES

     Introduced By: Senator William A. Walaska

     Date Introduced: February 07, 2012

     Referred To: Senate Labor

It is enacted by the General Assembly as follows:

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     SECTION 1. Section 28-14-2.2 of the General Laws in Chapter 28-14 entitled "Payment

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of Wages" is hereby amended to read as follows:

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     28-14-2.2. Frequency of payment. -- (a) Except as provided in sections 28-14-4 and 28-

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14-5, every employee other than employees of the state and its political subdivisions and of

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religious, literary, or charitable corporations shall be paid weekly all due wages from his or her

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employer, except those employees whose compensation is fixed at a biweekly, semi-monthly,

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monthly, or yearly rate.

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      (b) The director may, upon written petition showing good and sufficient reason, permit

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the employer and its affiliates to pay wages less frequently than weekly provided: (1) The

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employer or one or more of its affiliates is in the financial services or investment advisory

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business; (2)(1) The employer and its affiliates have more than two thousand (2,000) employees

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located in Rhode Island; (3)(2) The employer's average payroll exceeds one hundred twenty-five

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percent (125%) of the average compensation of all employees in the state as defined in subsection

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42-64.11-2(c); (4)(3) The employer makes payment of wages regularly on a predesignated date

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no less than twice per month; and (5)(4) The employer provides proof of a surety bond or other

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sufficient demonstration of security in the amount of the highest biweekly payroll exposure in the

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preceding year for the employees subject to the petition.

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     SECTION 2. This act shall take effect upon passage.

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LC01183

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N A C T

RELATING TO LABOR AND LABOR RELATIONS - WAGES

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     This act would eliminate the financial services industry exemption from the weekly wage

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payment requirement.

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     This act would take effect upon passage.

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LC01183

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