Information contained in this publication is intended for informational purposes only and does not constitute legal advice or opinion, nor is it a substitute for the professional judgment of an attorney.
Browse through brief employment and labor law updates from around the globe. Contact a Littler attorney for more information or view our global locations.
View all Q1 2024 Global Guide Quarterly updates Download full Q1 2024 Global Guide Quarterly
New Law Facilitating Remote Work and Providing Exemption to Airlines with Operation Hubs on the Island
New Legislation Enacted
Author: Anabel Rodriguez-Alonso, Capital Member – Schuster LLC | Littler
The Puerto Rico Government enacted Act No. 27-2024, known as the “Act to Facilitate the Implementation of Remote Work in Private Enterprise and to Encourage the Establishment of Air Bases in Puerto Rico.” Recognizing how COVID-19 paved the way to working from home, Act No. 27-2024 seeks to encourage employees and employers without local presence or businesses to consider Puerto Rico the ideal place to work remotely, either temporarily or permanently.
The new measure recognizes it is the government’s public policy to support remote working alternatives as it helps attract more people to Puerto Rico and expands the opportunities for Puerto Ricans to secure jobs in industries that do not necessarily have a presence on the Island.
New 2024 Limits on Qualified Retirement Plans
New Regulation or Official Guidance
Authors: Lourdes C. Hernández-Venegas, Capital Member, and Alberto Tabales Maldonado, Senior Associate – Schuster LLC | Littler
The Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 24-01 (CL IR 24-01) announcing the applicable 2024 limits for Puerto Rico qualified retirement plans. Pursuant to Section 1081.01(h) of the Puerto Rico Internal Revenue Code of 2011, as amended (PR Code), the Secretary of the Treasury is required to publish the applicable limits under Section 401(a) of the Internal Revenue Code of 1986, as amended (US Code), which are incorporated by reference into the PR Code limits (e.g., annual compensation, annual benefit/contribution limits), once the IRS publishes its retirement plan limits under the US Code.
Additional information on applicable 2024 limits on qualified retirement plans can be found on littler.com. Employers in Puerto Rico should be aware of these developments and should contact knowledgeable counsel with any questions.
