A multi-ring gasket and flanged pipe joint assembly. A gasket for sealing the joint between two flanged pipes of polyvinylchloride, chlorinated polyvinylchloride or fiberglass-reinforced plastic pipe is provided. The gasket has an inner ring, an outer ring and a plurality of spokes connecting the inner ring to the outer ring. Voids, or reduced thickness areas, are formed between the inner ring, the outer ring and the spokes so as to leave substantial space between the flanges at the voids and thereby reduce the uneven distribution of stress on the flanges when the gasket is installed.