As used in this subchapter, unless the context otherwise requires, the following definitions shall apply:
(1)
(A) “Affected group” means two (2) or more employees designated by an employer to participate in a shared work plan.
(B) “Sub-group” means a group of employees which constitutes at least ten percent (10%) of the employees in an affected group;
(2) “Approved plan” means an employer's voluntary written plan for reducing unemployment under which a specified group of employees shares the work remaining after their normal weekly hours of work are reduced, which plan meets the requirements of § 11-10-604, and which plan has been approved in writing by the Director of the Division of Workforce Services;
(3) “Fringe benefits” includes, but is not limited to, such advantages as health insurance (hospital, medical, and dental services, etc.), retirement benefits under defined benefit pension plans as defined in section 3(35) of the Employee Retirement Income Security Act of 1974, paid vacation and holidays, sick leave, etc., which are incidents of employment in addition to the cash remuneration earned;
(4) “Normal weekly hours of work” means the normal hours of work for full-time and permanent part-time employees in the affected group when their employing unit is operating on its normal, full-time basis, not to exceed forty (40) hours and not including overtime;
(5) “Shared work benefits” means the unemployment compensation benefits payable to employees in an affected group under an approved plan as distinguished from the unemployment benefits otherwise payable under other provisions of this chapter;
(6) “Shared work employer” means an employer with a shared work plan in effect. An individual who, or an employing unit which, succeeds to or acquires, pursuant to § 11-10-710, an organization, trade, or business with a shared work plan in effect automatically becomes a shared work employer and adopts the plan if the individual or employing unit ratifies, in writing, the previously approved plan; and
(7) “Unemployment compensation” means the unemployment benefits payable under this chapter other than shared work benefits and includes any amounts payable pursuant to an agreement under any federal law providing for compensation, assistance, or allowances with respect to unemployment.