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1226 — Puerto Rico Law | CourtGPT
  1. Home/
  2. Laws/
  3. Puerto Rico/
  4. Title Seven - Banking (§§ 1 — 3116)/
  5. Part III - Other Financial Institutions/
  6. Chapter 80 - Commercial and Agricultural Credit and Development Corporation § 1226a - Cost of Pensions for Early Retirement/
  7. 1226
Puerto Rico Legal Code

1226

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Any employee of the Puerto Rico Commercial and Agricultural Credit and Development Corporation, in its nature as a public corporation as defined in § 763 of Title 3, who is a participant of the Employees Retirement System of the Government of Puerto Rico and its Instrumentalities and, as of the effective date that the public entity is totally or partially dissolved, has completed a minimum of twenty-four and a half (24 1 / 2 ) years of accredited service, may receive, as a minimum, a pension from the Retirement System as provided hereinbelow:\n(a) Employees who have completed twenty-four and a half (24 1 / 2) or more years of accredited service and have not yet attained the age of fifty-five (55) shall receive sixty-five percent (65%) of their average salary.\n(b) Employees who have completed twenty-four and a half (24 1 / 2) or more years of accredited service and have attained the age of fifty-five (55) shall receive seventy-five percent (75%) of their average salary.\n(c) Employees who have completed thirty (30) or more years of accredited service and who have not yet attained the age of fifty-five (55) shall receive seventy-five percent (75%) of their average salary.\nHistory

who have completed thirty (30) or more years of accredited service and who have not yet attained the age of fifty-five (55) shall receive seventy-five percent (75%) of their average salary.\nHistory —Aug. 18, 1994, No. 90, § 1.