Summary.
The bill addresses the return of contributions made by educators in the classes of 1972 and 1973 who retired in 2005. It identifies as recipients those certified by a resolution issued by the Social Security Fund (Caja de Seguro Social) whose contributions were not returned when they retired. Article 1 also includes surviving beneficiaries of deceased educators among the recipients.
Article 2 recognizes payment, at the expense of the National Treasury (Tesoro Nacional), of contributions made in connection with an extension of retirement by retired educators in those classes. It links payment to amounts withheld under the Self-Financed Early Retirement Plan (Plan de Retiro Anticipado Autofinanciable, PRAA) and the Public Servants’ Pension Savings and Capitalization System (Sistema de Ahorro y Capitalización de Pensiones de los Servidores Públicos, SIACAP) that were not returned upon retirement in 2005. The requirement for a resolution issued by the Social Security Fund continues to identify the educators covered. The recognition is made in accordance with paragraphs 1 and 2 of Article 1 of Law 4 of 2004 (Ley 4 de 2004). The bill uses that provision as a reference for payment and does not amend its articles.
Article 3 authorizes the Ministry of Education (Ministerio de Educación), the Ministry of Economy and Finance (Ministerio de Economía y Finanzas), and the Office of the Comptroller General of the Republic (Contraloría General de la República) to determine the amounts payable. It also authorizes them to carry out the procedures required to fulfill the bill’s purpose. Accordingly, determining each amount and administering payment are assigned to those entities within the recognition made at the expense of the National Treasury.
Article 4 provides that the Executive Branch (Órgano Ejecutivo), acting through the Ministry of Education and the Ministry of Economy and Finance, is to manage the actions needed to make the return of contributions effective under Article 2. This provision concerns implementation of the return recognized for certified educators and connects the work of both ministries to the contributions withheld under the two named systems. Article 5 sets the effective date as the day after promulgation.
The public entities involved are the Social Security Fund, the National Treasury, the Ministry of Education, the Ministry of Economy and Finance, the Office of the Comptroller General of the Republic, and the Executive Branch. The bill could concern or affect retired educators in the covered classes of 1972 and 1973, surviving beneficiaries of deceased educators, and the public servants’ pension sector.
What it proposes.
- Recognition of payment of contributions connected with an extension of retirement.
- Return of amounts withheld under PRAA and SIACAP.
- Determination of amounts and procedures for payment.
Who it would affect.
- Retired educators in the classes of 1972 and 1973 certified by the Social Security Fund.
- Surviving beneficiaries of deceased educators.
- Public entities responsible for determining amounts and arranging the return.
Key points.
- Covers certified educators in the classes of 1972 and 1973 who retired in 2005 without receiving a return of their contributions, as well as surviving beneficiaries of deceased educators.Art. 1
- Recognizes payment by the National Treasury of contributions connected with an extension of retirement and withheld under PRAA and SIACAP, in accordance with paragraphs 1 and 2 of Article 1 of Law 4 of 2004.Art. 2
- Authorizes the Ministry of Education, the Ministry of Economy and Finance, and the Office of the Comptroller General of the Republic to determine amounts and carry out the corresponding procedures.Art. 3
- Directs the Executive Branch to arrange, through the two named ministries, the actions needed to make the return effective.Art. 4
- Provides that the law would take effect on the day after its promulgation.Art. 5