ERISA Preempts Puerto Rico Law Requiring Transfer Of Assets, Judge Rules

SAN JUAN, Puerto Rico - A Puerto Rico law that requires retirement plans governed by the Employee Retirement Income Security Act to disburse and pay plan assets corresponding to benefits accrued by certain employees to a government plan is preempted by ERISA, a federal judge in Puerto Rico ruled April 4 (Puerto Rico Telephone Company, Inc., et al. v. Sistema de Retiro de los Empleados del Gobierno y la Judicatura, et al. v. Maria M. Rivera, et al., No. 09-1085CCC, D. Puerto Rico; 2013 U.S. Dist....(read more)Image may be NSFW.
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