P.R. Laws tit. 18, § 394b
(a) The powers and authorities of the System and the responsibility to establish the general administration and adequate operation thereof shall be assumed by the Board of Trustees hereby created, known as the “Board of Trustees of the Puerto Rico Teacher’s Retirement System”, which shall be constituted by nine (9) members, of which the following three (3) shall be ex-officio members:
(1) The Secretary of the Treasury of Puerto Rico or his/her representative, who shall be the Chair.
(2) The Secretary of Education of Puerto Rico or his/her representative.
(3) The President of the Government Development Bank or his/her representative.
(b) Of the six (6) remaining members:
(1) One (1) shall be the Chair of a teacher’s organization, or his/her representative, designated by the Governor of the Commonwealth of Puerto Rico, for a term of four (4) years.
(2) Three (3) System participants, one (1) of which shall represent currently certified teachers in active service, and two (2) that shall represent retired teachers whose teacher certification are in effect at the time of his/her retirement. These members shall be appointed by the Governor of the Commonwealth of Puerto Rico, for a term of four (4) years and shall hold office until the successors are appointed and take office.
(3) One (1) of the members, or his/her representative, shall be Chair of the entity that represents the proper unit under §§ 1451 et seq. of Title 3. If the teachers of the Department of Education do not have a representative of the proper unit under §§ 1451 et seq. of Title 3, the Governor of the Commonwealth of Puerto Rico may appoint a teacher in active service as member of the Board. Said appointment shall be effective for four (4) years or until teachers designate a representative of the proper unit, whichever occurs first.
(4) One (1) additional member shall be a representative of the public interest, knowledgeable and experienced in the administration and operation of financial systems, appointed by the Governor of Puerto Rico, for an original term of four (4) years.
(c) The Chair of the teacher’s organization and the representatives of active and retired teachers who, at the time of the approval of this act, hold said positions in the Board of the Teacher’s Retirement System, shall continue to hold said positions until their terms expire.
(d) As said initial terms expire, the Governor of the Commonwealth of Puerto Rico shall appoint their successors for a term of four (4) years. Should a vacancy arise, due to resignation, death, or dismissal, the person selected to substitute the resigning, deceased, or dismissed member shall hold office for the remainder of the unexpired term of the original member.
(e) Once sworn in, the Trustees (or their representatives), who shall assume the responsibility of being Chair of any teacher’s organization, shall not have the authority to represent their respective organizations, but shall act with full powers and responsibilities as Trustees of the System.
(f) No member of the Board may do business with the System or have relatives within the fourth degree of consanguinity or second degree of affinity working in the System.
History —Dec. 24, 2013, No. 160, § 2.3.