Puerto Rico Employees Retirement System

The plan continues a cut to the pension system found in earlier versions.

New expectations for disaster funding, gross national product growth rates, and population may change projections of money for debt.

The board wants to recover more than $1 billion in payments and fees on bonds it deems illegal.

Democratic representatives hailed the decision, which averts an interruption of the effort to restructure the island's debt.

Board says it it will sue those who held at least $2.5 million of the challenged bonds from May 2013 to May 2017.

The board says it will file law suits seeking to claw back funds from bondholders before the end of Thursday, May 2.

Judge Swain's ruling complicates the Puerto Rico Oversight Board's effort to recover payments on $6 billion of bonds that the board deems to have been illegally sold.

They say that the Oversight Board has shown itself to be slow and obstructionist in attacking illegitimate bonds and prosecuting guilty parties.

The firms are saying they shouldn't have to participate in the disclosure, which could lead to a clawback of bond payments.

The proposed 2020 budget has $139 million for the payment of debt.

The step is said to be unprecedented in the history of Chapter 9 bankruptcy.

Puerto Rico Oversight Board says it can achieve much but not all of its pension restructuring plans without the local government's assistance.

Governor's representative complains that the expenditures were legally adopted.

About 30 investment funds filed a motion in the Employees Retirement System's bankruptcy to be named as its trustee.

Ruling may lead to the requirement to pay interest on the bonds despite the Employees Retirement System bankruptcy.

Judge Susan Braden had said she was inclined to hold the U.S. government responsible for impairments to Employees Retirement System bonds.

The board continues to say that state metrics should be a guide to restructuring the island's central government debt to a much lower level.

The Oversight Board and Gov. Rosselló remain at odds over pensions and labor reform.

The agreement ends an attempt by unsecured creditors to scuttle a restructuring of $4.1 billion bond debt.

Island residents would recover up to 50% of the value of their losses.