P.R. Laws tit. 18, § 396

2019-02-20 00:00:00+00
§ 396. System Contribution Fund

(a) The “Puerto Rico Teacher’s Annuity and Pension Fund” shall be known from the effective date of this act as the “System Contribution Fund”, which shall be maintained and funded as follows:

(1) With the existing monies and assets of the “Puerto Rico Teacher’s Annuity and Pension Fund” as of the effective date of this act;

(2) with the fixed individual contributions made before August 1, 2014, as provided in subsection (a) of § 396b of this title;

(3) with the fixed employer contributions as provided in subsection (b) of § 396b of this title;

(4) with the contributions made by private institutions in accordance with the terms established in this chapter;

(5) with the gifts and bequests made to the Fund;

(6) with the appropriations made from the Expense Budget of the Commonwealth of Puerto Rico to finance additional benefits for pensioners, and

(7) with the interests, dividends, rents, and net earnings as part of the return on investment of the assets of the Fund.

History —Dec. 24, 2013, No. 160, § 4.1.