The Governing Board of the Electric Power Authority (PREPA), today endorsed the terms for the new phase of the Voluntary Transition Program for employees of said corporation.
This program offers an additional alternative to employees to qualify for retirement benefits, receiving not only the corresponding settlement, but also an economic incentive equivalent to six months’ salary and another for health-related expenses.
“We recognize the work of PREPA employees and within the transformation process carried out in the corporation, we identify alternatives that adapt to the needs of each one. That is why we have launched the Voluntary Transition Program (PTV), which will allow to initiate a transition to the private sector or the third sector with economic incentives, to those PREPA employees who, as of May 1, 2021, have held career positions with regular employment classification in divisions subject to the provisions of the Puerto Rico Transmission and Distribution System Operation and Maintenance Agreement of June 22, 2020 ”, expressed the president of PREPA’s Governing Board, Ralph A. Kreil Rivera.
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Eligible PREPA employees will be able to request the PTV immediately and the deadline is May 31, 2021, at 11:59 pm
For his part, PREPA’s executive director, Efran Paredes Maisonet, indicated that “an economic incentive equivalent to six months’ salary will be granted to those of our employees who take advantage of the Program, which will be of great benefit to their transition process. This is another alternative that is offered to them so that they can make the best decision for their future ”.
Likewise, the employees who participate in the PTV will also receive the final settlement for vacation leave and accumulated overtime, which will be paid within a period of 60 days, counted from the effectiveness of the incentivized resignation.
Likewise, they will be awarded an incentive of $ 600.00 for health-related expenses.
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The economic incentive of six months of salary will be free of payment of contributions and will not be subject to discounts or deductions for savings or contributions to the Association of Employees of the Commonwealth of Puerto Rico (AEELA). However, you will be subject to other deductions required by law, such as Social Security and Medicare.
Employees who wish to participate in the PTV must complete the application, which will be available on the cyber portal http://www.aeepr.com/es-pr/ptv and in the Human Resources Office of PREPA.