P.R. Laws tit. 18, § 397g
(a) Credit.— The Executive Director shall credit to the Defined Contribution Account of every Defined Contribution Program participant the following items:
(1) Individual Contributions of Participants.— The individual contributions made by the Defined Contribution Program participant, as required under this chapter, shall be credited once the employer remits them to the System.
(2) Return on investment.— The return on investment shall be credited at the close of each semester of each fiscal year. The return on investment shall be computed on the last business day of each semester of the fiscal year on the average monthly balance of the defined contribution account of the Defined Contribution Program participant, during the semester in question. The return on investment shall be determined by the Board and shall never be less than eighty percent (80%) of the System’s portfolio net rate of return during each semester of each fiscal year, of management fees such as, but not limited to, fees payable to portfolio managers, custody, and investment advice.
(b) Rights on the Defined Contribution Account.— Defined Contribution Program participants shall always be entitled to one hundred percent (100%) of the balance of the contributions made to their defined contribution accounts.
History —Dec. 24, 2013, No. 160, § 5.9.