P.R. Laws tit. 3, § 765a
(a) Any payment for uncomputed creditable services shall be made while the member is in active service and shall include the corresponding interest at the rate determined by the Board, from the date of the total payment thereof if the payment is made in cash, or to the date in which the administrator grants a payment plan.
In the case of military service in the Armed Forces or while pursuing studies totally or partially paid with funds provided by the Department of Veterans Affairs of the Government of the United States, formerly the Veterans Administration, the rate of interest to be paid shall be based at a simple interest rate of six percent (6%) per annum based on the lesser of the salary earned when entering government service or that received when entering into active service in the Armed Forces or on the date of their discharge therefrom.
In the case of any president or vice-president who has served in organizations or associations which represent police officers and civilian employees of the Puerto Rico Police until June 30, 1966, the interest to be paid shall be based at a simple interest rate of six percent (6%) per annum based at the salary earned while working for said organizations or associations at the time the accreditation of the services was requested.
(b) Any participant may request that the Administrator grant him a payment plan in order to cover the cost of uncomputed creditable services under §§ 761 et seq. of this title. These payment plans shall entail the imposition of the corresponding interest, and may be granted for over sixty (60) months, as established by the Board through regulations. Any payment plan shall be settled before requesting a pension for age, years of service or non-occupational disability. If a participant does not complete a payment plan, he shall receive partial credit of time equivalent to the paid services. In the event that a participant is involuntarily separated from service without having covered the total cost of the uncomputed services, he may continue making direct payments to the System until said cost is paid.
(c) The Administrator may grant to any participant that so requests it, a special personal loan for the global payment of the uncomputed creditable services. This special personal loan shall not be renewable and shall include the corresponding interest. The granting of these special personal loans shall be subject to the norms and conditions established by the Board through regulations. Credits for the uncomputed services covered by a special personal loan shall be recognized and credited as soon as the Administrator grants the loan.
History —May 15, 1951, No. 447, p. 1298, added as § 5A on May 21, 1992, No. 10, § 5; Aug. 12, 1995, No. 184, § 2; June 10, 1996, No. 53, § 41; renumbered as § 1-107 on Sept. 24, 1999, No. 305, § 8; Sept. 15, 2004, No. 296, § 4.