P.R. Laws tit. 4, § 243

2019-02-20 00:00:00+00
§ 243. Members of employees retirement system

On July 1, 1954, all judges who are members of the Employees Retirement System of the Commonwealth of Puerto Rico shall cease as such and automatically become participants in this System, with all the rights and subject to all the conditions and obligations attaching to membership in same. The contributions made by such participants to the Employees Retirement System of the Commonwealth of Puerto Rico, including interest up to the said date, shall be transferred to the System created by §§ 233—246 of this title and credited to the respective accounts of the participants for the use and purposes set forth in the provisions of said sections. The Administrator is hereby authorized to accept the said funds.

The amounts so transferred from the Employees Retirement System of the Government of Puerto Rico and its instrumentalities may be reimbursed to said System if the participant has not served as a judge for the last eight (8) years of service preceding his resignation or retirement by reason of age or disability, in order to obtain credit for the years served to the Government in any capacity other than as a judge, as provided in § 234 of this title. The amounts reimbursed shall include interest earned up to the date of the reimbursement. After said reimbursement is made, the provisions of Act No. 59 of June 11, 1953, shall apply. The obtainment of service credits for retirement purposes in the Employees Retirement System of the Government of Puerto Rico and its instrumentalities shall be governed by the provisions of §§ 761—788 of Title 3, and their regulations.

History —Oct. 19, 1954, No. 12, p. 152, § 11; Apr. 30, 1956, No. 14, p. 38, retroactive to July 1, 1954.