All posts tagged "Retirement Systems"

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  Gov’t didn’t pay additional contribution to retirement systems

  SAN JUAN – Since 2013, the Puerto Rican government has accumulated a $685 million debt to the central government’s retirement system and $37.2 million with the judiciary’s system, corresponding to two special laws that created an additional...

  • Posted March 16, 2017
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  PDP Reps Present Alternatives to Mitigate Retirement Crisis

  SAN JUAN — A group of Popular Democratic Party (PDP) representatives on Wednesday expressed their opposition to a 10% reduction in pensions for beneficiaries of the central government and teachers’ retirement systems—as proposed by the Fiscal Oversight...

  • Posted February 23, 2017
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  Public-Private Partnerships Eyed as a Revenue Source for Pension Plans

  In an attempt to save the ailing Commonwealth Retirement Systems, which are slated to become insolvent in 2018, the Puerto Rico government is relying on different strategies, including setting aside 25% of certain revenues yielded by private...

  • Posted February 23, 2017
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  La Fortaleza unveils 10 new measures to address Puerto Rico’s crisis

  SAN JUAN – Of the more than 300 measures filed since Monday by the new government administration of the New Progressive Party, the first 10 were authored by La Fortaleza. One of the measures would bring back...

  • Posted January 3, 2017
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  Commonwealth, teacher retirement systems underfunded

  SAN JUAN – Puerto Rico’s retirement systems, which have 120,526 retirees, only have 8 cents for every dollar owed, and their administrator, Pedro Ortiz Cortés, acknowledged these are underfunded and that, in 2018, liquidity to meet retirees’...

  • Posted December 1, 2016
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  Puerto Rico’s government deficit reaches alarming levels

  SAN JUAN – The transition committee president of the incoming government administration, Elías Sánchez, said Monday that the deficit left by the administration of Gov. Alejandro García Padilla is of more than $6 billion, while the outgoing government maintains...

  • Posted November 22, 2016