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Employers Have Until December 20th 2017 to Participate in Incentive and Amnesty Plan

An McV Labor & Employment Law Alert

On August 22, 2017, the Puerto Rico State Insurance Fund (“SIF”) issued an Administrative Order establishing a 120-day period which ends on December 20, 2017, during which employers may participate in the Incentive Plan established under P.R. Act 92-2017 regarding workers’ compensation premiums. 

Under this Incentive Plan, an employer may receive a 50% amnesty on the total amount it owes  to the SIF, subject to certain conditions, such as having paid the SIF coverage premium for Fiscal Years 2016-2017 and 2017-2018. Employers may also benefit from a 100% amnesty on any amount owed to the SIF since 2001 or earlier.

An employer must make the corresponding payment in full on the same day the SIF approves the amnesty and desist of any appeal before the P.R. Industrial Commission regarding its indebtedness with the SIF.

The content of this McV Alert has been prepared for information purposes only. It is not intended as, and does not constitute, either legal advice or solicitation of any prospective client. An attorney-client relationship with McConnell Valdés LLC cannot be formed by reading or responding to this McV Alert. Such a relationship may be formed only by express agreement with McConnell Valdés LLC.

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