P.R. Laws tit. 3, § 787p
If an early retirement window is approved, that is to say, any measure intended to accelerate retirement for public employees or officials, reducing the years of service or age required to retire under a special legislation or the Autonomous Municipalities Act, the actuarial cost of the retirement window to be determined by the Administrator of the Retirement Systems for Government Employees shall be paid in advance by the employer to the Retirement System Administration for the Employees of Government and the Judiciary. The actuarial cost shall consist of: (i) the difference between the current value of the accelerated pension established by the early retirement window and the current value of a pension for years of service under the provisions of Act No. 447 of May 15, 1951, as amended; and (ii) employer and individual contributions corresponding to three (3) years after the participant has reached the retirement age required under the plan.
Provided further, that employers shall compensate the Retirement System Administration for the Employees of Government and the Judiciary for the costs incurred in the implementation and administration of the early retirement window and all the actuarial studies requested by the employer.”
History —May 15, 1951, No. 447, p. 1298, added as § 5-116 on June 25, 2013, No. 32, § 3.