Transfer and Assignment of Gratuity Rights
- Officers or employees may sell, transfer, or assign gratuity rights.
- Such transactions must conform to regulations approved by the Secretary of Finance.
- Transfers may be made to investment funds under the Insular Government or to authorized banks.
- Approval by the Secretary of the Interior is required.
Protection from Levy or Execution
- The gratuity is exempt from levy or execution, ensuring it cannot be seized or garnished.
Exclusivity of Benefits and Choice Among Pension Rights
- Retired officers or employees who qualify under other pension laws (e.g., Act No. 2589) or special pension funds may choose only one benefit.
- Payment of gratuity under multiple laws simultaneously is prohibited.
Conditions for Filling Vacated Positions
- Positions vacated through retirement under this act may be filled only with approval from the Secretary of the Interior and the local government body.
- Salary for the successor must not exceed two-thirds of the original vacant position's salary.
- This is contingent on the inability to leave the position vacant without harm to public service.
Restrictions on Reappointment and Requirement of Refund
- Individuals separated under this Act cannot be reappointed or employed in any government branch or government-financed company without refunding the gratuity received.
- Exceptions apply if the person's financial situation justifies gradual refund through salary deductions, as determined by the department head.
- The refund provision does not apply to those subsequently elected to elective offices.
Effectivity
- The law takes effect immediately upon approval, dated December 7, 1934.