Employee Retirement System

The Employee Retirement System of the Government of the Commonwealth of Puerto Rico (“ERS”) is a statutory trust and governmental instrumentality of the Government of Puerto Rico created by Act No. 447 of May 15, 1951, as amended. ERS was created to provide pension and other benefits to retired employees of the Government of Puerto Rico, most of the public corporations and the municipalities of Puerto Rico. However, Act No. 106-2017 replaced such system with a pay-as -you-go system under which the Commonwealth pays pension benefits directly to retirees.
 

CREDIT RATING DASHBOARD

  • D

    FITCH

  • C

    MOODY`S

On May 21, 2017, the Financial Oversight and Management Board for Puerto Rico (“FOMB”), at the request of Governor Rosselló, commenced a Title III case for the Employees Retirement System of the Government of the Commonwealth of Puerto Rico (“ERS”) by filing a petition for relief pursuant to Section 304(a) of PROMESA, 48 U.S.C. § 2164(a), in the United States District Court for the District of Puerto Rico. As such, ERS is currently a debtor in a proceeding under the Title III of PROMESA, 48 U.S.C. § 2161, et seq. Pursuant to Section 315(b) of PROMESA, 48 U.S.C. § 2175(b), the FOMB serves as ERS’s representative in its Title III proceeding. ERS’s Title III proceeding is being jointly administered with the Commonwealth’s Title III proceeding for procedural purposes only in the United States District Court for the District of Puerto Rico under Case No. 17-BK-03283-LTS. The Title III case docket can be accessed for free by clicking here.