---
kind: "section"
citation: "48 U.S.C. § 2151"
title: "48"
title_heading: "Territories and Insular Possessions"
number: "2151"
heading: "Analysis of pensions"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/48/2151"
units:
  - "Chapter 20 — Puerto Rico Oversight, Management, and Economic Stability"
  - "Subchapter II — Responsibilities of Oversight Board"
---

# §2151. Analysis of pensions

- (a) **Determination—** If the [Oversight Board](/usc/48/2104.md?p=17) determines, in its sole discretion, that a pension system of the [territorial government](/usc/48/2104.md?p=18) is materially underfunded, the [Oversight Board](/usc/48/2104.md?p=17) shall conduct an analysis prepared by an independent actuary of such pension system to assist the [Oversight Board](/usc/48/2104.md?p=17) in evaluating the fiscal and economic impact of the pension cash flows.
- (b) **Provisions of analysis—** An analysis conducted under [subsection (a)](#a) shall include—
  - (1) an actuarial study of the pension liabilities and funding strategy that includes a forward looking projection of payments of at least 30 years of benefit payments and funding strategy to cover such payments;
  - (2) sources of funding to cover such payments;
  - (3) a review of the existing benefits and their sustainability; and
  - (4) a review of the system’s legal structure and operational arrangements, and any other studies of the pension system the [Oversight Board](/usc/48/2104.md?p=17) shall deem necessary.
- (c) **Supplementary information—** In any case, the analysis conducted under [subsection (a)](#a) shall include information regarding the fair market value and liabilities using an appropriate discount rate as determined by the [Oversight Board](/usc/48/2104.md?p=17).

## Source credit

(Pub. L. 114–187, title II, § 211, June 30, 2016, 130 Stat. 576.)