Regulatory Alerts2016-11-14 | DOF 5460855Added
Agreement Establishing General Provisions Regarding the Federal Government's Assumption of Payment Obligations for Pensions and Retirement Benefits of the Federal Electricity Commission
The Federal Government assumes a proportion of the pension and retirement payment obligations of the Federal Electricity Commission (CFE) corresponding to workers hired before August 18, 2008, up to an amount equivalent to the validated reduction of CFE's labor liability. This assumption is executed through the issuance of non-negotiable government securities (Títulos) denominated in national currency or UDIS, with annual maturities starting in 2018. The specific payment commitment amount is determined by an independent expert's review of CFE's cost-saving measures, and CFE is prohibited from assigning or negotiating the rights to these securities.
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