
Puerto Rico Statutory and Private Employee Benefits (including Social Security) - Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Benefi
Description
Puerto Rico Statutory and Private Employee Benefits (including Social Security) - Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Benefits, 2022 Update
Summary
In 1952, Puerto Rico was granted the status of Commonwealth of United States after its constitution was ratified by the electorate. The Employees Retirement System (ERS) and Teachers Retirement System (TRS) are the major governing bodies of social security. The existing retirement system was introduced in 1951 as a defined benefit plan, but over the years evolved into a hybrid plan. The systems now provide coverage for retirement, disability and death.
The report provides in-depth industry analysis, information, and insights of the employee benefits in Kenya, including an overview of the state and compulsory benefits in Kenya, detailed information about the private benefits in Kenya, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Kenya.
Key Highlights
This report provides a detailed analysis of employee benefits in Puerto Rico -
Summary
In 1952, Puerto Rico was granted the status of Commonwealth of United States after its constitution was ratified by the electorate. The Employees Retirement System (ERS) and Teachers Retirement System (TRS) are the major governing bodies of social security. The existing retirement system was introduced in 1951 as a defined benefit plan, but over the years evolved into a hybrid plan. The systems now provide coverage for retirement, disability and death.
The report provides in-depth industry analysis, information, and insights of the employee benefits in Kenya, including an overview of the state and compulsory benefits in Kenya, detailed information about the private benefits in Kenya, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Kenya.
Key Highlights
- The ERS and TRS organizations are responsible for the functioning of the overall social security system.
- A person’s national insurance contribution is determined based on their income.
- An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to credited contribution.
- In Puerto Rico, employers provide voluntary retirement benefits to their employees through qualified pension, stock bonus and profit sharing plans.
This report provides a detailed analysis of employee benefits in Puerto Rico -
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, leaves and holidays and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Puerto Rico
- Make strategic decisions using in-depth information related to employee benefits in the country
- Assess employee benefits of the market, including state and compulsory benefits and private benefits
- Gain insights into the key employee benefit schemes offered by private employers in the country
- Gain insights into key organizations governing employee benefits market, and their impact on companies
Table of Contents
49 Pages
- 1. Executive Summary
- 2. Introduction
- 2.1 What is this Report about?
- 2.2 Definitions
- 3. Country Statistics
- 4. Overview of Employee Benefits in Puerto Rico
- 5. Regulations
- 6. State and Compulsory Benefits
- 6.1 Retirement Benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.2 Death in Service
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.3 Long-Term Disability Benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.4 Short-Term Sickness Benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.5 Medical Benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.6 Workers’ Compensation insurance
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.7 Maternity and Paternity Benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- 6.8 Other Benefits
- Family Benefits
- Unemployment benefits
- Leaves and Holidays
- 7. Private Benefits
- 7.1 Retirement Benefits
- 7.2 Death Benefits
- 7.3 Disability Benefits
- 7.4 Medical Benefits
- 7.5 Accidental and Dismemberment Benefits
- 7.6 Other Benefits
- About GlobalData
- Contact Us
- List of Tables
- Table 1: Puerto Rico - Retirement Plan Limits 2022
- Table 2: Insurance Industry Definitions
- Table 3: Puerto Rico - Country Statistics, 2020
- Table 4: Puerto Rico - Retirement Plan Limits 2022
- Table 5: Puerto Rico - OASDI-Retirement Age
- Table 6: Puerto Rico - ERS-Retirement Age
- Table 7: Puerto Rico - Pensionable Salary Limits, 2021 and 2022
- Table 8: Puerto Rico - Long-Term Disability Dismemberment Benefits
- Table 9: Puerto Rico - Monthly Income levels for Medicaid
- Table 10: Puerto Rico - Income Eligibility Guidelines
- Table 11: Puerto Rico - Annual Household Income Limits for NAP, 2022
- Table 12: Puerto Rico - Annual Household Income Limits for CHIP, 2022
- Table 13: Puerto Rico - Severance Pay
- Table 14: Puerto Rico - List of Cancelled Holidays
- Table 15: Puerto Rico - Compulsory Holidays in Puerto Rico, 2022
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