Any employee of the Puerto Rico Electric Power Authority who is a member of, and is covered by, any retirement or pension plan created by the Legislature of Puerto Rico for officials and employees, or any groups of employees of the Commonwealth Government of Puerto Rico, may select one of the following two alternatives:
(a) Within a period of three months beginning on the date of approval of this section, to withdraw from any pension plan established by the Legislature of Puerto Rico of which he may be a member; and he shall be granted the same rights, privileges, and obligations granted to officials and employees of the Commonwealth Government who resign, or are separated from, their offices, or
(b) to continue as a member of the retirement or pension plan established by the Legislature of Puerto Rico, and of which he may be a member, in which case the Puerto Rico Electric Power Authority shall pay monthly to the retirement or pension fund of which said employee may be a member, the same amount which, as a regular contribution, said Electric Power Authority would contribute for said official or employee to the retirement system established by said Authority, beginning on the date when said retirement system was established or on the date when said official or employee is or becomes an official or employee of the Authority otherwise entitled to become a member of the retirement system thereof, as the case may be, and until such official or employee has completed his retirement qualifications and retires, or retires due to physical disability or for any other reason provided for in the retirement or pension plan established by the Legislature of Puerto Rico, and of which he may be a member.
History —May 13, 1947, No. 351, p. 674, § 1.