For Puerto Rican retirees living in Florida, the critical question of the long-term security of their pensions is a constant source of worry, according to a commentary in the Orlando Sentinel. On Wednesday, the House of Representatives’ Natural Resources Committee heard testimony from a cross-section of Puerto Ricans and other stakeholders as it considers amendments to PROMESA, the 2016 law that created a financial oversight board for Puerto Rico. As discussions swirl around the future of Puerto Rico’s pensions, retirees are looking to Congress to protect their much-needed income. In October, Puerto Rico’s legislature passed a resolution opposing the proposed plan of adjustment and warned they would vote down any legislation that could implement the proposed pension cuts of up to 8.5 percent as well as cuts to other essential services. But the resolution still needs to pass the Puerto Rican Senate to have any teeth to fight back against the plan to slash retiree payments.
*The views expressed in this commentary are from the author/publication cited, are meant for informative purposes only, and are not an official position of ABI.
