PREPA ERS definition

PREPA ERS means the Puerto Rico Electric Power Authority Employee Retirement System, or by its Spanish name Sistema de Retiro de los Empleados de la Autoridad de Energía Eléctrica (the “SREAEE” by its Spanish acronym), the entity responsible for the administration and payment of PREPA’s pension obligations, pursuant to the PREPA ERS Regulations.
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PREPA ERS means the Puerto Rico Electric Power Authority Employee Retirement System, or by its Spanish name Sistema de Retiro de los Empleados de la Autoridad de Energía Eléctrica (the “SREAEE” by its Spanish acronym), the entity responsible for the
Sample 1Sample 2Sample 3

Examples of PREPA ERS in a sentence

  • A formal written legal opinion identifying the legal basis on which former PREPA employees transferred to the Commonwealth may continue to participate in the PREPA Employees Retirement System (“PREPA ERS”), as opposed to being enrolled in the Commonwealth Act 106 Defined Contribution plan, including the Government’s ability or obligation to assume the PREPA ERS employer contributions for mobilized employees.

  • Identification of the point in time at which these contributions will be made and how these contributions will be transferred to and accepted by PREPA ERS.

  • Confirmation that any pension reform measures applied to PREPA ERS would also be applied to mobilized employees.

  • The pension plan was constituted by Resolution Number 200 of June 25, 1945, adopted by PREPA’s Board of Directors creating a retirement fund called the “PREPA Employees’ Retirement System.” PREPA ERS is funded through a combination of employee contributions and funds from PREPA.

  • Based on the 2014 actuarial report, PREPA ERS was underfunded by approximately $1.7 to $2.2 billion.

  • PREPA ERS was created in 1945 pursuant to PREPA’s CBA with UTIER.

  • The contractual obligations of PREPA to PREPA ERS as of the Petition Date, including, without limitation, the obligation to pay employer contributions sufficient to fund benefits as set forth in the PREPA ERS Regulations, shall be rescinded or deemed rejected pursuant to section 365(a) of the Bankruptcy Code, and, other than the obligations set forth in this ArticleVI and Article XXVI.B, no further obligation of PREPA or Reorganized PREPA to PREPA ERS shall arise in connection with such rejection.

  • From and after the Effective Date, in full consideration, satisfaction, release, and exchange of the Pension Claim held by PREPA ERS, Reorganized PREPA shall pay to the PREPA PayGo Trust, for the benefit of PREPA ERS, the amounts described in Article XXVI.B, sufficient to satisfy of Participants’ claims against PREPA ERS to the extent described in this Article VI.

  • From and after the Effective Date, in full consideration, satisfaction, release, and exchange of the Pension Claim held by PREPA ERS, Reorganized PREPA shall pay to the PREPA PayGo Trust, for the benefit of PREPA ERS, the amounts described in Article XXIII.B, sufficient to satisfy of Participants’ claims against PREPA ERS to the extent described in this Article VI.

  • As of the Effective Date, new defined contribution accounts in the retirement plan established for Commonwealth employees under Act 106-2017 will be established for all Active PREPA ERS Participants, with minimum employee contributions of eight and one-half percent (8.5%) of their payroll in accordance with the contribution requirements of Act 106-2017.

Related to PREPA ERS

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  • Reference Interconnection Offer or “RIO” means a document published by a service provider specifying terms and conditions on which the other service provider may seek interconnection with such service provider;

  • Incremental Rights-Eligible Required Transmission Enhancements means Regional Facilities and Necessary Lower Voltage Facilities or Lower Voltage Facilities (as defined in Tariff, Schedule 12) and meet one of the following criteria: (1) cost responsibility is assigned to non-contiguous Zones that are not directly electrically connected; or (2) cost responsibility is assigned to Merchant Transmission Providers that are Responsible Customers.

  • Correctional facility means a facility operated under the management and control of the Virginia Department of Corrections.

  • Interconnection Activation Date means the date that the construction of the joint facility Interconnection arrangement has been completed, trunk groups have been established, joint trunk testing is completed and trunks have been mutually accepted by the Parties.

  • Complete application means a document prepared in

  • Athlete Application means the form set by the NZOC that must be completed by any Athlete applying to be nominated and selected to the Games Team.

  • Non-Administrator Dialysis Facility means a Dialysis Facility which does not have an agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan but has been certified in accordance with the guidelines established by Medicare.

  • FCC Applications means those applications and requests for waivers required to be filed with the FCC to obtain the approvals and waivers of the FCC pursuant to the Communications Act and FCC Rules necessary to consummate the transactions contemplated by this Agreement.

  • State average current expense appropriations per student means the most

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  • Interconnection Request means a Generation Interconnection Request, a Transmission Interconnection Request and/or an IDR Transfer Agreement.

  • Fugitive dust emissions means particulate matter from process operations that does not pass through a process stack or vent and that is generated within plant property boundaries from activities such as: unloading and loading areas, process areas, stockpiles, stock pile working, plant parking lots, and plant roads (including access roads and haul roads).

  • Exceptional Items means any material items of an unusual or non-recurring nature which represent gains or losses including those arising on:

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  • PM10 emissions means PM10 emitted to the ambient air as measured by an applicable reference method, or an equivalent or alternate method, specified in 40 CFR Part 51, Appendix M as of December 8, 1984, or by a test method specified in these regulations or any supplement thereto.

  • Effective State average tax rate means the average of effective county tax rates for all counties.

  • Respiratory protective equipment means an apparatus, such as a respirator, used to reduce an individual's intake of airborne radioactive materials.

  • Inner Duct or “Conduit" shall mean any passage or opening in, on, under, over or through the Embarq Central Office Building cable or conduit systems.

  • Wireline backhaul facility means a facility used to transport services by wire or fiber-optic cable from a wireless facility to a network.

  • Anticipated State average revenue availability per student means the sum of all anticipated total county revenue availability divided by the average daily membership for the State.

  • Disinfection profile means a summary of Giardia lamblia inactivation through the treatment plant.

  • Balance billing means charging or collecting an amount in excess of the Medicaid, Medicare, or contracted reimbursement rate for services covered under a Medicaid, Medicare or employer sponsored beneficiary’s plan. “Balance Billing” does not include charging or collecting deductibles or copayments and coinsurance required by the beneficiary’s plan.

  • Distribution Upgrades has the meaning set forth in the CAISO Tariff.