P.R. Laws tit. 18, § 395j
(a) Any participant who is active as of July 31, 2014, and was not eligible for retirement on such date with a pension benefit equal to or over sixty-five percent (65%) of the average salary and who, subsequently, applies for retirement when completing thirty (30) years of service and reaching the age of fifty-five (55) shall be entitled to a minimum pension of one thousand six hundred twenty-five dollars ($1,625) per month. The minimum pension of one thousand six hundred twenty-five dollars ($1,625) shall be guaranteed to teachers who enroll in the system as of August 1, 2014, and meet the years of service and age requirements provided in subsection (d) of § 395h of this title.
(b) A minimum pension of five hundred dollars ($500) per month is hereby fixed for those participants who retired on or before July 31, 2014. Every pensioner receiving a pension of less than five hundred dollars ($500) per month shall receive, as of August 1, 2014, the corresponding raise so that his/her pension amounts to five hundred dollars ($500) per month.
(c) Every four (4) years, the System shall request an actuarial study to evaluate the impact of increasing the minimum pension herein established. In the event that the actuarial study recommends an increase to the minimum pension, the System’s Board of Trustees shall be required to adopt such increase at the beginning of the following fiscal year.
History —Dec. 24, 2013, No. 160, § 3.11.