Jump to Navigation

News & Publications

Fiscal Plan for Puerto Rico

March 2017

The Puerto Rico Fiscal Agency and Financial Advisory Authority ("AAFAF"), the Government of Puerto Rico (the "Government"), and each of their respective officers, directors, employees, agents, attorneys, advisors, members, partners or affiliates (collectively, with AAFAF and the Government instrumentalities the "Parties") make no representation or warranty, express or implied, to any third party with respect to the information contained herein and all Parties expressly disclaim any such representations or warranties. The Government has had to rely upon preliminary information and unaudited financials for 2015 and 2016, in addition to the inherent complexities that are part of a government in transition, especially after a prolonged period of public finance obscurity. As such, AAFAF and the Government have made certain assumptions that may materially change once more clarity and transparency takes hold, especially after the Government issues the past due audited financials for 2015 and 2016 later this year.

The Parties do not owe or accept any duty or responsibility to any reader or recipient of this presentation, whether in contract or tort, and shall not be liable for or in respect of any loss, damage (including without limitation consequential damages or lost profits) or expense of whatsoever nature of such third party that may be caused by, or alleged to be caused by, the use of this presentation or that is otherwise consequent upon the gaining of access to this document by such third party.

This document does not constitute an audit conducted in accordance with generally accepted auditing standards, an examination of internal controls or other attestation or review services in accordance with standards established by the American Institute of Certified Public Accountants or any other organization. Accordingly, the Parties do not express an opinion or any other form of assurance on the financial statements or any financial or other information or the internal controls of the Government and the information contained herein.

Fiscal Plan for Puerto rico

Equal Pay Act of Puerto Rico, Law No. 16-2017

March 2017

On March 8, 2017 Governor Ricardo Rosselló-Nevares signed into law the Equal Pay Act of Puerto Rico, Law No. 16-2017 to eradicate salary inequality between men and women who perform comparable job functions in the workplace. It prohibits discrimination based on sex against employees who perform work with equal functions that requires the same skill, effort, and responsibilities under similar working conditions, unless such differences are due to: i) a bona fide seniority or merit system; ii) a compensation system based on production volume or quality sales or profit; iii) education, training, or experience reasonably related to a job in particular; and iv) any other reasonable factor other than the person's sex.

Non-complying employers face a wide range of obligations and penalties. For example, the employer may not equalize the salaries by reducing the compensation of other employees. Also, the employer cannot impose as a condition of employment or job retention that the candidate or employee refrains from disclosing his or her salary or from requesting information about other employees' salaries.

This law also establishes that any employer who incurs in wage discrimination will pay the discriminated employee any unpaid salary gap and an equal amount as penalty, plus expenses and attorney fees.

An employer can avoid financial liability if one year before a claim is presented, an evaluation of its compensation practices is made in order to start a bona fide process to eliminate gender based wage inequality.

The statute also has a retaliation prohibition to protect employees that: (i) claim discrimination against the employer; (ii) reveal their salaries; or (iii) offer testimony against the employer as part of an investigation for violations under the Equal Pay Act. An employer who incurs in retaliation practices against an employee will be liable for double the damages awarded to the employee.

The Equal Pay Act has a statute of limitations of one year, beginning on the date the employee knew of the employer's violations with its provisions.

Lastly, although the law was signed on March 8, 2017 and effective immediately, employer's liability is deferred one year, in order to allow them to implement the necessary corrective measures to be in compliance with the Law.

Equal Pay Act of Puerto Rico

Government's New Minimum Wage

March 2017

On March 2, 2017, Governor Rosselló-Nevares signed Executive Order 2017-026 increasing the minimum wage to employees in the central government from $7.25 to $8.25 per hour. This increase is to be implemented at the beginning of the next fiscal year on July 1, 2017.

In addition, the Executive Order provides that government contractors in the construction industry must certify that their employees are paid in compliance with the minimum wage. That is, as of July 1, 2017, government contractors will have to certify that their employees earn no less than $8.25 per hour.

The Executive Order also states that the administration's goal is to progressively increase the minimum wage to employees in the central government until it reaches a pay rate of $10.00 per hour, requiring all government contractors in the construction industry to do the same.

In addition to Executive Order 2017-026, Governor Rosselló-Nevares stated that he intends to issue another Executive Order establishing a Committee that will be in charge of raising Puerto Rico's Minimum Wage.
We at Goldman remain committed in assisting you and your business to adjust to these forthcoming changes in the Law. For further information, or detailed legal advice you may contact any of the attorneys in the Labor Department.

Government's New Minimum Wage

Government Enacts New Tax Incentives to Retain Physicians in Puerto Rico

Labor Transformation and Flexibility Act

Labor Transformation and Flexibility Act

Labor Transformation and Flexibility Act

Service Charge? For what?

Service Charge?  For what?

Labor Transformation and Flexibility Act

Labor Transformation and Flexibility Act

To all our Clients and Friends

To all our Clients and Friends

Compliance with the Plastic Bags Ban Involves More Than Not Using Plastic Bags

 Compliance with the Plastic Bags Ban Involves More Than Not Using Plastic Bags

Is my distribution agreement merely exclusive or "airtight" exclusive?

Is my distribution agreement  merely exclusive or

Please click below to read our Client Alert: Time to put your corporation up to date in its annual report filings

Time to put your corporation up to date in its annual report filings

Please click below to read our Client Alert: Two Methods Of Payment Now Required For All Commercial Establishments

Two methods of payment now required  for all commercial establishments

Please click below to read our Client Alert: Employers Can Now Better Prevent Stalking in the Workplace

Employers Can Now Better Prevent Stalking in the Workplace

Please click below to read our Client Alert: Collaborative Agreement between Treasury Department and the Municipalities

Collaborative Agreement between Treasury Department and the Municipalities

Please click below to read our Client Alert: Employees are not Entitled to Receive Payment of Accrued Sick Leave

Employees are not Entitled to Receive Payment of Accrued Sick Leave

Please click below to read our Client Alert: Fraud as defined by the US Bankruptcy Code

Fraud as defined by the US Bankruptcy Code

Please click below to read our Client Alert: Solicitor of Labor and Human Resources Dept. of Puerto Rico Issues a Disturbing Opinion Regarding the Accrual and Payment of Sick Leave to Non-Exempt Employees

Solicitor of Labor and Human Resources Dept. of Puerto Rico Issues a Disturbing Opinion Regarding the Accrual and Payment of Sick Leave to Non-Exempt Employees

Please click below to read our Client Alert: U.S. Department of Labor Issues Final Overtime Rules

U.S. Department of Labor Issues Final Overtime Rules

Please click below to read our Client Alert: Overtime Regulations are still on track for July 2016

Overtime Regulations are still on track for July 2016

Please click below to read our Client Alert: Equally Divided Supreme Court in Friedrichs v. California Teachers Ass'n.

Equally Divided Supreme Court in Friedrichs v. California Teachers Ass'n.

Please click below to read our Client Alert: U.S. House Committee on Natural Resources Issues Discussion Draft of " Puerto Rico Oversight, Management and Economic Stability Act" (PROMESA)

U.S. House Committee

Please click below to read our Client Alert: U.S. District Court strikes down special transfer pricing tax in Puerto Rico

Tax Alert

Please click below to read our Client Alert: Basic Information on Governmental Bid Processes

Basic Information

Please click below to read our Client Alert: Value Added Tax

Value Added Tax

Please click below to read our Client Alert:New Case Law: Appropriate Location for Breastfeeding

new case

Please click below to read our Client Alert: First Amendment Rights Trump Forced Union Dues?

client alert-january11

Please click below to read our Client Alert: Accrued sick leave can be used to take care of others

client alert

Please click below to read our Client Alert: ILN Firm of the Month - Goldman Antonetti & Cordova, LLC - San Juan, Puerto Rico!

ILN Finn of the Month - Goldman Antonetti & Cordova, LLC - San Juan, Puerto Rico!

Please click below to read our Client Alert: Energy Update Request for Expressions of Interest to Modernize and Transform The Puerto Rico Electric Power Authority's Generation System

Energy Update Request for Expressions  of Interest to  Modernize and Transform The Puerto Rico Electric Power Authoritys Generation System

Please click below to read our Client Alert: Puerto Rico Energy Commission Regulatory Update

Puerto Rico Energy Commission Regulatory Update

Please click below to read our Client Alert: Department of Labor's Wage & Hour Division announced changes to the Fair Labor Standards Act

  Department of Labors Wage & Hour Division announced changes to the Fair Labor Standards Act

Please click below to read our Client Alert: Bathroom Access for Transgender Employees

Bathroom Access for Transgender Employees

Please click below to read our Client Alert: G enetic Nondiscrimination: Updated FMLA Forms

G enetic Nondiscrimination  Updated FMLA Forms

Please click below to read our Client Alert: She wore a headscarf ! !! A story of failure to accomodate

She wore a headscarf  ! !! A story of  failure to accomodate

Please click below to read our Client Alert: Puerto Rico Energy Commission Net Metering Update

Puerto Rico Energy Commission Net Metering Update

Please click below to read our Client Alert: Amendment to Act No. 115: Anti-Retaliation in Employment Covers Internal Complaints, Claims and Grievances

Amendment to Act No 115  Anti-Retaliation in Employment Covers Internal Complaints Claims and Grievances

Please click below to read our Client Alert: Puerto Rico’s Tax Advantages Offer Additional Incentives for EB-5 Foreign Investors

Puerto Rico

Please click below to read our Client Alert: Action Required in Bill 501 to Prohibit and Prevent Workplace Harassment in Puerto Rico

Bill 501

Please click below to read more information about, "El Arbitraje como Alternativa a la Litigación Judicial"

El arbitraje

Please click below to read our Client Alert: President Obama Issues Executive Order Establishing Minimum Wage for Federal Government Contractors

Executive order

Please click below to read our Client Alert: General Contractor Found Liable for Harassment and Retaliation

General C

Please click below to read our Client Alert: OFCCP Issues Final Affirmative Action Rules Setting Hiring And Utilization Goals For Individuals With Disabilities And Veterans

OFCCP Issues Final Affirmative Action Rules

Please click below to read our Client Alert: Compliance Date for New OFCCP Final Affirmative Action Rules Is March 24, 2014

Compliance Date for new OFCCP

Please click below to read our Client Alert about Employer's obligation to provide automatic and discretionary promotions to servicemembers

Employer's obligation

Reconocimiento 100 Empresas

Reconocimiento 100 Empresas

Affirmative Action and OFCCP Regulations and Audits

Please click on the image below to view our Gender Identity Discrimination Client Alert

Gender Identity Discrimination

Please click on the image below to view New Employment Eligibility Verification i nformation

Employment Eligibility Verification

Please click on the image below to view New Tax Amnesty Law Approved in Puerto Rico

New Tax Amnesty Law Approved in Puerto Rico

Please click on the image below to view our Seminar- Registros, Radicaciones y Reuniones Corporativas

Please click here view our Webinar- - A Year in Review: Key U.S. Labor and Employment Law Developments in 2012 and What to Expect in 2013

Please click on the image below to view our 2012 Postal Navidad

Postal Navidad 2012

Please click on the link below to view our Tax Alert - Administrative Determination No. 12-08

Tax Alert - Administrative Determination No. 12-08

Please click on the image below to view our Client Alert- Corporations: Take advantage of this grace period

 Corporations: Take advantage of this grace period

Please click on the icon below to view our flyer- Gender Stereotyping Discrimination Under Title VII and related note

Gender Stereotyping Discrimination Under Title VII Related Note: Gender Stereotyping Discrimination Under Title VII Note

Please click on the icon below to view our Tax Alert- New Tax Amnesty Law

New Tax Amnesty Law

Please click on the icon below to view our Cient Alert- NLRB Issues Guidelines to Employers (Social Media)

NLRB Issues Guidelines to Employers (Social Media)

Please click on the icon below to view a recent clarification for GAC Newsletter #79

NL 79 Clarification

Please click on the icon below to view GAC Newsletter #79.

GAC Newsletter #79

Please click on the icon below to view our Client Alert- NLRB Postpones Notice-Posting Requirements

NLRB Postpones Notice-Posting Requirements

Please click on the icon below to view our Flyer - New List of Categorical Exclusions

New List of Categorical Exclusions

Please click on the icon below to view our Flyer - Environmental Law Update

Environmental Law

Please click on the icon below to view our Flyer - Notice- Posting Requirements by NLRB

Notice - Posting Requirements by NLRB

Please click on the icon below to view our Flyer- Draft Reference Guide for Green Energy Fund

Reference Guide for Green Energy

Please click on the icon below to view our Flyer- ASUME

ASUME

Please click on the icon below to view our Flyer- Energy Emergency

Energy Emergency

Please click the icon below to view our Client Alert - Did I quit my job or was I forced to resign

Client Alert - Did I quit my job or was I forced to resign

Please click the icon below to view GAC Newsletter #78*

GAC Newsletter 78

Please click the icon below to view our client alert for- Tax Update

Tax Update

Please click the icon below to view our Client Alert for- Important Changes to the Annual Report Filing Process

Important Changes to the Annual Report Filing Process

Please click the icon below to view our Client Alert for- OFCCP Proposes Withdrawl of Voluntary Self-Evaluations

OFCCP Proposes Withdrawal of Voluntary Self-Evaluations

Please click the icon below to view our Client Alert for- Tax Credits under Act No. 73 of May 28, 2008

Tax Credits under Act No. 73 of May 28, 2008

Please click the icon below to view our Client Alert for- Client Alert- Government Unveils the Amended Patient's Bill of Rights & Responsibilities

Patient Bill of Rights

Please click on the icon below to view our Client Alert for- Special Exemption from Income Tax Withholding on Salaries Paid

Special Exemption from Income Tax Withholding on Salaries Paid

Please click on the newsletter icon below to view our current newsletter for Spring 2010.

Spring Newsletter 2010

Please click on the icon below to view our flyer on Annual Returns Due.

Annual Returns Due flyer

Please click on the icon below to view our Summary Judgment Approach flyer.

Client Alert 3-10-10

Please click on the newsletter icon below to view our current newsletter for December 2009 "Business Law Developments".

December Business Law Developments

Click image to read changes to the Closing Law.

Closing Law Alert

Please click on the newsletter icon below to view our current newsletter for Summer 2009 "Business Law Developments".

Summer 2009

Asociación de Contratistas Generales

Asociación de Contratistas Generales Note

You may also sign up below to receive a copy of our E-newsletter.

Sign Up for our E-newsletter.

Archived Newsletters

You can view past issues and topics from Business Law Developments via our archive collection.

Members Of: Interlaw International Lawyers Network
Employment Law Alliance Helping Employers Worldwide

Goldman Antonetti & Córdova is a member of the Employment Law Alliance, the leading international network of over 3,000 attorneys providing employment and labor expertise in more than 90 countries and all 50 U.S. states.