Plan Qualification in Puerto Rico

[Guest jac]

Has anyone qualified a U.S. established DB plan in Puerto Rico? Looking for information about the process, and any tips or suggestions someone might have. Thanks.

[SoCalActuary]

Generally, a US employer with non-PR address goes thru the normal qualification procedure.

A PR based employer is subject to Title I of ERISA, but not Title II, since PR has their own revenue code.

One particular feature is that PR was more restrictive about employee deferrals.

PR has a few pension firms, so you should check with them.

Wyatt had an office, as well as a local small plan firm.

Warning, my information is seriously out of date, so get more research from the locals in PR.