9263

Every agency or municipality shall conduct and submit to the OMB, within a term not to exceed sixty (60) days after the effective date of this act, a Voluntary Pre-Retirement Program implementation assessment. The agency or municipality may request free of charge the technical assistance of the OMB, as well as the advice of the Central Labor Advisory and Human Resources Administration Office (OCALARH, Spanish acronym) to conduct said assessment. If the assessment suggests that participation in the Program would result in savings in the average payroll and fringe benefit expenses of such agency, the employer shall devise the Pre-Retirement Employer Plan.\nThe agency or municipality that wishes to participate in the Program must be up-to-date with any payments corresponding to the Retirement System Administration. In the event of any outstanding debt with the Retirement System Administration, the agency or municipality shall be required to enter into a payment plan in accordance with the terms and conditions established by the Retirement System Administration and shall include in the Plan that it would devote at least twenty-five percent (25%) of its savings for the payment of said

e terms and conditions established by the Retirement System Administration and shall include in the Plan that it would devote at least twenty-five percent (25%) of its savings for the payment of said debt.\nNotice This section has more than one version with varying effective dates. First of two versions of this section.\nHistory —Dec. 8, 2015, No. 211, § 4; Aug. 9, 2016, No. 170, § 3.