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Supreme Court Clears Bankruptcy Restructuring of Puerto Rico Government Pension Plans
Ogletree Deakins 
June 9, 2020 "While the restructuring process has not yet ended, barring unexpected developments within the next couple of years the plans are likely to be modified as follows: the accumulation of additional defined accruals will be permanently frozen; government employees in Puerto Rico will be covered solely under a defined contributions/savings plan; and previously accrued pension benefits will be reduced by up to 8.5 percent." [Financial Oversight and Management Board for Puerto Rico v. Aurelius Investment, LLC, No. 18-1334 (S. Ct. Jun. 1, 2020)] MORE >> |
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