Nov. 24, 2006 — The members of Advocates for the Preservation of the Government Employees Retirement System (APRS) were pleased at the passage of Act 6794 as a first step toward the preservation of the retirement system. But Bill No. 26-0200 (original and substitute forms) is, regrettably, a step backward.
In the first place, without the implementation of Title 3 V.I. Code, Chapter 27, Section 701, subsection (g) (1), the legality of this bill is questionable. If such an analysis, as required by this section, has been completed, where is it?
Additionally, the refusal to allow election to the GERS Board to those who were contributors to, and are now recipients of the retirement fund is incomprehensible. The same election process that facilitates election to the health insurance board might permit election of retirees to the GERS Board. All members of the system require representation.
In a situation where currently, and in the foreseeable future, payments from the system substantially exceeds income, the APRS finds it difficult to understand a proposed amendment that raises the cap from $65,000 to $85,000. History proves that whatever increase GERS might accrue in income will be far exceeded by the cost of the retirement payroll.
For all government employees, classified and unclassified, to receive 100 percent of the average of their salary based on the last three years of employment, each such retiree must have 40 years of service.
Why then, the APRS asks, does Bill 26-0200 propose that senators — through election to office, who are still employees of the government — be permitted to work only 20 years for the same benefit?
While we recognize that some senators may chose periodically to fulfill obligations that result in more than a 40-hour week, the V.I. Code does not recognize the obligations of an elected officer as a full-time employee.
APRS fervently hopes that those parts of Bill No. 26-0200 with which we concur, once enacted into law, will be implemented with greater dispatch than that pursued for Act 6794.
Thank You.
Editor's note: Mary Davis is chairperson of Advocates for the Preservation of the Government Employees Retirement System.
Editor's note: We welcome and encourage readers to keep the dialogue going by responding to Source commentary. Letters should be e-mailed with name and place of residence to source@viaccess.net.
