76 F
Cruz Bay
Thursday, March 23, 2023
HomeNewsArchivesGERS Issues Bonus Checks

GERS Issues Bonus Checks

The Government Employees Retirement System announced Monday that it has processed and issued 6,851 checks of $103.08 each for eligible retirees, the so-called V.I. Lottery bonus.

Retirees age 60 and older who have been on the retirement payroll for one year, along with all disability annuitants who have been on the payroll for one year, can expect to receive their bonus payment through the customary method in which they receive their annuity payments from GERS, either by mail or direct deposit.

The V.I. Legislature enacted the program in 2008, creating the cash Christmas gifts for retirees. The law’s title says it serves to "allow for a cost of living increase in the annuitants’ pensions," and cites inflation in its internal explanation, although the annual checks are not connected to the cost of living and do not represent a pension increase.

Print Friendly, PDF & Email
Keeping our community informed is our top priority.
If you have a news tip to share, please call or text us at 340-228-8784.

Support local + independent journalism in the U.S. Virgin Islands

Unlike many news organizations, we haven't put up a paywall – we want to keep our journalism as accessible as we can. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. We know that informed communities are empowered ones. If you appreciate our reporting and want to help make our future more secure, please consider donating.