Puerto Rico Enacts New Incentive Plan For Employers To Pay Outstanding Workers' Compensation Debt

Author:Ms Anabel Rodríguez-Alonso
Profession:Littler Mendelson
 
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On October 16, 2014, Puerto Rico Governor Alejandro García Padilla signed Law No. 174, a new incentive plan for employers to become current and eliminate any arrears of any outstanding debt owed to the Puerto Rico State Insurance Fund Corporation ("SIFC") that oversees workers' compensation funds.  Law No. 174 grants a 20% discount of the SIFC debt as long as the employer pays the debt within 180 days from the date of the publication of the guidelines. 

With its enactment, Law No. 174 amends Article 2 of Law No. 15 of January 3 of 2014.  Law No. 15 provides incentives, such as the elimination of interests, surcharges and administrative expenses of past due amounts owed to SIFC, the Unemployment Insurance Fund, the Chauffeurs Insurance Fund and the Non-Occupational Disability Insurance, as well as the creation of interest-free payment plans, among others.  

Law 174...

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