Business, labor and congressional sectors signed a preliminary agreement for the passing of the social security bill. This bill would provide for retirement funds for workers in the DR. Employers would provide 70% of the cost of the fund, with employees contributing the remaining 30%. The bill will be sent to Congress for approval in the next legislature that starts 27 February 2000. The bill establishes an initial cost of 17.2% of the salary of employees, increasing to 21.2% in a five-year term will be dedicated to the fund to ensure social security benefits to workers, regardless of their salary.
