Employers, Know Your Benefit Issues In Puerto Rico

Law360, New York (July 25, 2013, 1:29 PM EDT) -- This article highlights some recent developments that employers with Puerto Rico employee benefits arrangements should consider concerning compliance with U.S. federal laws on health care reform and the Patient Protection and Affordable Care Act, fiduciary duties under the Employee Retirement Income Security Act of 1974 and Pension Benefit Guaranty Corporation (PBGC) coverage issues. A failure to comply with applicable U.S. federal laws in Puerto Rico may result in costly litigation and civil penalties as well as criminal penalties.

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