384d

Retroactive to January 1, 1992, and subsequently every three (3) years, all annuities paid under this chapter for age, years of service or disability, which are effective as of said date and which have been received at least three years before, shall be increased by three percent (3%). In years subsequent to 1992, the triennial increase shall be subject to a prior favorable recommendation of the Teachers Retirement System’s Actuary. Upon compliance with said requirements, the Teachers Retirement Board shall submit the increase proposal to the Legislature of Puerto Rico for its approval. The triennial increase in years subsequent to 1992 shall cover all annuities paid under this chapter for age, years of service and disability which are in effect as of January 1 of the year in which the increase is granted, and which have been received at least three (3) years before. History —Sept. 4, 1992, No. 62, § 6.