SECTIONS
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NEWS
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 General Motors Mexico will install an assembly plant in SLP
It is a fact: Due to the negotiations carried out by the Governor Marcelo de los Santos Fraga, to the offered advantages on infrastructure, to the labor environment and to the excellent existing work force...
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Seven new maquilas in three months
Ciudad Juarez, Chihuahua - This year the Ministry of the Economy s representation office has. authorized seven new maquila programs, which all together created 502 direct jobs. The programs were authorized to the following companies: Util de México, S. de R.L. de C.V.
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Unión Fenosa will increase investment in Mexico
The Spaniard company Unión Fenosa is in Mexico because it does have a great. confidence in this country, no matter who the next president is, and is therefore planning to increase its investment in Mexico by 50% in ...
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Pantech plans expansion in Latin American markets
Seoul - The small Korean empire, Pantech Group, made up of companies devoted to communication, cell phones manufacture, mobile communication solutions and a wide range of technological innovations for massive use, is getting ready to conquer more Latin American ...
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Laird Technologies arrives to Mexico
Mexico With a US$1 million investment, the main producer of antennas for cell phones and blockers against electromagnetic interference in order to have a good mobile telephony signal, Laird Technologies will open next April or May its first plant in Mexico...
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Alfa invests in Altamira
Reynosa, Mexico Alfa, a Nuevo Leon corporation, in a joint venture with American investors, will inaugurate the company Indelpro in Altamira municipality to produce resins and petrochemical products for export, announced Alfredo Gonzalez Fernandez, Secretary of Economic Development.
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Delphi shrinking in the USA, growing in Mexico
Ciudad Juarez, Chihuahua While in the USA Delphi is looking for
ways to get rid of its employees, in Juarez operations at plants
grow.
Xochitl Diaz, Delphi s Corporate Issues Manager in Mexico, said that
in Ciudad Juarez Delphi s productive activities are growing...
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ARTICLE OF THE WEEK
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| CONSAR Bulletin: Retirement plans Social Security
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 By Baker & McKenzie
Labor |
 The CONSAR Bulletin 18-2, which establishes the general rules regarding the requirements that have to be met by the retirement plans granted by employers or derived from collective bargaining agreements, to consider the amounts contributed to such plans as excluded from the salary basis for computing social security contributions, were published in the Federal Official Gazette on February 14, 2006.
1. The bulletin confirms the requirements indicated below, so that the amounts contributed by the employer to the retirement plans granted by employers or derived from collective bargaining agreements are not considered part of the salary basis:
a) The benefits of the retirement plan (the "Plan") must be granted in general terms, that is the Plan has to be established for the benefit of all the employees, under any kind of labor relationship with the employer; distinctions may be made considering the labor risk to which the employee is exposed, the position in which the employer hired the employee, the workplace where the employees render their services, and/or the enrollment of the employees to different unions.
b) That the amounts applied to the Plan are duly registered in the employer's accounting records, and
c) That the employer directly pays the amounts destined to the Plan to the pension fund.
The requirements mentioned above were provided in Rule 18-1, published on November 11, 1997, which has been abrogated by the new rules.
 2. In addition, rule 18-2 establishes that for the amounts contributed by the employer to retirement pension plans or derived from collective bargaining agreements not to be considered part of the salary basis, the employer has to file, no later than the April 30 of each year, the general information of the Plan, by means of filling out and filing Annexes "A" and "B" that will be available for the employers in the web page www.consar.gob.mx
3. The procedure will be the following:
a) Once the National Commission of Savings for the Retirement (CONSAR) reviews the information, it will give an identification number to the Plan.
b) No later than the third business day of the month of May of each year, the Commission will inform to the Social Security Institute the identification number of the Plan.
c) The employers must use such identification number in all documents and legal filings related to the Plan.
4. If the general information concerning the retirement Plan is filed with the CONSAR, in terms of Annexes "A" and "B" of the Bulletin, before April 30 of each year, the employer will have the right to not include in the salary basis the amounts contributed to the Plan. In the event the information is filed after said date, the employer will be entitled to the same benefit, starting as of the bimester following the bimester on which the Commission assigned the identification number to the Plan.
5. The employers´ fulfillment of the above-mentioned requirements will neither give the employees or its beneficiaries the right of having a retirement income that derives from the Plan provided by his employer or derived from collective bargaining agreements nor to request to their Retirement Fund Administrator the funds of the Plan to obtain a life annuity or opt for programmed withdrawals before they reach their retirement age established in the Social Security Law, because this Rule only establishes the requirements for the amounts contributed by the employer to the Plan not to be considered part of the salary basis.
This benefit is established in article 190 of the Social Security Law, and it is conditioned to the registration of the retirement Plans, which requirements are established in CONSAR bulletins 17-1, 17-2 and 17-3.
The amounts contributed by the employers to such retirement Plans, that fulfill the requirements established in the CONSAR Bulletin 18-1, will not be considered part of the salary basis until April 30, 2006.
IMPORTANT DISCLAIMER: This document has been prepared by the Labor Practice Group of the Mexico offices of Baker & McKenzie for our clients and professional associates. This document only refers to Mexican law. While every effort has been made to ensure accuracy, no responsibility can be accepted for errors or omissions, however caused. The information contained in this document should not be relied on as legal advice and should not be regarded as a substitute for detailed advice in individual cases. No responsibility for any loss occasioned to any person acting or refraining from action as a result of material in this document is accepted by the authors or Baker & McKenzie. If advice concerning individual problems or other expert assistance is required, we would be pleased to oblige.
Baker & McKenzie authorizes you to forward, reproduce, copy, archive and distribute this document without any changes and as long as you include the copyright notice below. The distortion, mutilation, modification or edition of this document is prohibited without the author's prior consent.
All Rights Reserved © Baker & McKenzie Abogados, S.C. Mexico 2006
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| All Rights Reserved © Baker & McKenzie Abogados, S.C. Mexico 2005 |
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MEXICO'S WEEKLY HEADLINES
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| » WEF emphasizes technological leadership of Chile and advance of Mexico |
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| » Deficit with Japan increases 24% |
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| » Maquiladora industry grows in January |
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| » CFE will install optic fiber in NL |
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| » Nemak contemplates plant in China |
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EVENTS
2006
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APRIL
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AMCON
Denver, CO, USA
18 - 19 Apr.
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