(a) The System shall invest its funds in accordance with the provisions of this chapter and the rules, procedures, and regulations prescribed by Board of Trustees through regulations.(b) The regulations, rules, and procedures approved shall be consistent with all the restrictions established in the Investment Guidelines for government retirement plans promulgated by the Government Development Bank for Puerto Rico.(c) The Board of Trustees shall adopt the policies for the administration of the investments authorized under this chapter. The investment policy shall include, but not be limited to, the following:(1) The criteria, requirements, and conditions for the selection, contracting and evaluation of the performance of investment managers and depository banks to be contracted to make the investments authorized under this chapter.(2) The policy for investing the System’s resources in the capital market.(3) The rules for the administration, lease, sale, encumbrance or attachment of real property acquired to generate income.(4) Provisions to direct actuarial investigations to determine the System’s financial solvency, adopt rules as are necessary to guarantee the payment of t of real property acquired to generate income.(4) Provisions to direct actuarial investigations to determine the System’s financial solvency, adopt rules as are necessary to guarantee the payment of pensions, and approve the mortality tables necessary to make an actuarial valuation of all pensions and other benefits granted under this chapter. History —Dec. 24, 2013, No. 160, § 6.1.
Puerto Rico Legal Code