P.R. Laws tit. 3, § 5015
Any person who fulfills the minimum requirements established below shall be credited for the service rendered provided that as a consequence of crediting said years the Retirement System is not deemed as a plan to which the provisions of the Federal Employee Retirement Income Security Act of 1974, as amended, apply:
(1) Those employees of the Puerto Rico Telephone Company:
(a) Who are active participants in the Retirement System;
(b) have accrued a minimum of twenty-five (25) years of creditable services on the closing date of the sale by the Puerto Rico Telephone Authority of fifty percent (50%) plus one share of the stock of the Puerto Rico Telephone Company to GTE Telecommunications Intentional, as provided in the Joint Resolution approving said sale, and
(c) who as a result of said sale, lose their eligibility as a participant in the retirement system, may credit an additional period of time as service, determined by the Board of Directors of the Puerto Rico Telephone Authority which shall not exceed five (5) years, provided these pay the corresponding individual and employer contribution on the basis of the salary received at the closing date of said sale.
History —July 28, 1998, No. 182, § 16, renumbered as § 18 on Dec. 6, 1998, No. 293, § 10.