Most of the problem centers on two pension systems set up for teachers and for government workers that stopped accepting new beneficiaries in January 2000. Those plans cover more than 273,000 active and retired government workers.The systems initially allowed employees to retire at age 55 after 25 years of service or at age 58 with 10 years of service. In 1990, legislators amended the law to reduce benefits and increase the retirement age from 55 to 65 years for newly hired workers.
Puerto Rico Addresses Collapsing Pension System
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