Amendment to Act No. 4051 (Retirement Gratuity Act)

August 21, 1935

ACT NO. 4238

AN ACT TO AMEND SECTION SIX OF ACT NUMBERED FOUR THOUSAND AND FIFTY-ONE KNOWN AS THE RETIREMENT GRATUITY ACT

SECTION 1. Section six of Act Numbered Four thousand and fifty-one, known as the "Retirement Gratuity Act," is hereby amended to read as follows:

"SEC. 6. A person separated or retired under the provisions of this Act may be reappointed to any position in the Insular Government but by accepting such reappointment he shall forever waive all future gratuity payments and/or claims under the provisions of this Act. Similarly, a retired person who, under the provisions of section three hereof, has discounted the gratuity payments to which he is entitled shall, upon his reappointment to any position in the Insular Government, first refund to the investment fund or the bank to which he has ceded his rights to the gratuity, the total discounted value of all the gratuity payments which he would not yet have received had these been made to him in monthly installments: Provided, That, upon being satisfied that the financial situation of a retired employee reappointed to any position in the Insular Government does not allow his making the refund herein requested, the respective Department Head may authorize the payment of the sum to be refunded in monthly installments equivalent to the sums being paid by the Insular Government to the investment fund or bank, to be deducted from the monthly pay accruing to such retired and reappointed employee after reappointment, such monthly deductions to continue until the last monthly installment payable by the Insular Government to the investment fund or bank shall have been paid in full. The sum deducted from the salaries of reappointed officers and employees as herein authorized shall accrue as refund to the retirement gratuity fund created by section ten hereof."

SECTION 2. This Act shall take effect on its approval.

Approved, August 21, 1935.