GOVERNMENT EMPLOYEES AND JUDICIARY RETIREMENT SYSTEM ADMINISTRATION.
LEGAL AUTHORITY

Act No. 447 of May 15, 1951, as amended, created the Employees Retirement System of the Government of the Commonwealth of Puerto Rico, which shall be deemed as a trust.

Act No. 12 of October 19, 1954, as amended, known as the Judiciary Retirement Act, created a retirement system for the Judiciary Branch of the Commonwealth of Puerto Rico.

MISSION

Provide quality services to government and Judiciary employees through an effective fund management, to ensure a worthy income to our retired clientele, as well as financial resources to active participants. Effectively and efficiently manage the annuity and pension fund, develop investment strategies that will result in economic solvency to the System and the actuarial projection. In addition, administer the resources annually appropriated from the General Fund to cover the cost of benefits associated with the special laws mandates.

ORGANIZATIONAL STRUCTURE

  • Administrative Services
  • Board of Trustees
  • Comptroller's and Budget Area
  • Human Resources and labor Relations
  • Internal Audit Office
  • Legal Affairs Office
  • Office of the Administrator
  • Retirement Services and Loans
  • Technology and Information

PROGRAM

GOVERNMENT EMPLOYEES AND JUDICIARY RETIREMENT SYSTEM ADMINISTRATION

Program Description

Manages the Employees Retirement System of the Government and the Judiciary and all technical and administrative activities required to provide services to participants.


Statistical Data 2011 2012 2013

 

Active Members 136,382 141,313 139,380
Retired Members 113,582 114,521 116,940

Statistical data was provided by the agency during the fiscal year 2012-13 budgetary process.

Clientele

Active government employees and judges, retired employees and their beneficiaries.

FISCAL YEAR 2012-2013 PROPOSED BUDGET

The proposed consolidated budget for fiscal year 2012-2013 amounts to $28,312,000 in Revenues from Internal Sources. .

Operational expenses reflect a decrease of $138,000 when compared to funds assigned in fiscal year 2011-2012 due to a reduction in professional services for fiscal year 2012-2013.

The proposed budget will allow the Government Employees and Judiciary Retirement System manage the System's resources so that its participants can receive a worthy income upon retiring from public service. Some of the benefits provided by the System include: merit, age, and years of service pensions, death benefits, and personal, cultural or mortgage loans.

SUMMARY OF AVAILABLE RESOURCES

Consolidated Budget  (thousands $) 2010 2011 2012 2013

 

Program  
Operational Expenses Actual Actual Budget Proposed
Government Employee and Judiciary Retirement System Administration 31,924 29,866 28,450 28,312
Subtotal, Operational Expenses 31,924 29,866 28,450 28,312
 
Subsidies, Incentives and Donations
Government Employee and Judiciary Retirement System Administration 55 53 60 60
Subtotal, Subsidies, Incentives and Donations 55 53 60 60
Total, Program 31,979 29,919 28,510 28,372
 
Funding Sources  
Operational Expenses  
Revenues from Internal Sources 31,924 29,866 28,450 28,312
Subtotal, Operational Expenses 31,924 29,866 28,450 28,312
 
Subsidies, Incentives and Donations  
Revenues from Internal Sources 55 53 60 60
Subtotal, Subsidies, Incentives and Donations 55 53 60 60
Total, Funding Sources 31,979 29,919 28,510 28,372
 
Expense Category  
Operational Expenses  
Payroll and Related Expenses 23,912 21,600 18,631 18,541
Rent and Utilities 1,093 1,255 1,150 1,188
Purchased Services 1,671 1,713 2,079 2,198
Transportation Expenses 35 41 91 53
Professional Services 3,862 3,377 4,169 3,600
Other Expenses 395 456 384 399
Non Distributed Allocations 0 413 1,175 1,802
Equipment Purchases 440 561 183 104
Office Supplies and other Materials 218 219 190 254
Advertising and Media Expenses 20 6 25 23
Budget Reserve 278 225 373 150
Subtotal, Operational Expenses 31,924 29,866 28,450 28,312
 
Subsidies, Incentives and Donations  
Incentives and Subsidies for Services to Citizens 55 53 60 60
Subtotal, Subsidies, Incentives and Donations 55 53 60 60
Total, Expense Category 31,979 29,919 28,510 28,372