Tag: GERS
Senators Express Confusion About Changes to GERS Bail Out Bill, But Pass it in a Close Vote
Confusion swept through the Legislature on Thursday during a special session at which senators were called to vote on changes to a debt refinancing bill that aims to rescue a fiscally crumbling pension system. By an 8-6 margin, the newly amended legislation narrowly passed.
Governor Hopes For Extension of Pandemic Unemployment Benefit
The U.S. Virgin Islands will take advantage of an extra $300 a week in supplemental unemployment benefits to help ease the financial strain brought on by the ongoing public health crisis, Gov. Albert Bryan Jr. said during a Monday news conference.
Senate Passes Heavily Amended GERS Bail Out Bill
The governor’s proposed bill that aims to bail out the Government Employees' Retirement System was passed by the Legislature at a Friday special session, the culmination of Thursday’s Finance Committee hearing that moved into special session before being recessed.
Split Finance Committee OKs Pension Bail Out Bill With Hesitations
The Senate Finance Committee on Thursday narrowly advanced Gov. Albert Bryan Jr.'s bill that aims to bail out the Government Employees' Retirement System by securitizing the territory’s Matching Fund debt.
Bryan Urges Senate to Approve Securitization Bill
With the V.I. Senate set to convene on Tuesday, Gov. Albert Bryan Jr. on Monday urged lawmakers to put politics aside and support a bill for securitizing the territory’s matching fund debt, which would bring about $200 million into the territory over the next three years.
Senate Hears New and Old Proposals for GERS
Sen. Janelle Sarauw asked why the Government Employees' Retirement System of the Virgin Islands kept a consultant firm on contract for seven years when all she heard from the consultant was the system needed “a significant infusion of cash.”
Bryan Creates GERS Funding Task Force, Echoing 2011 DeJongh Move
Gov. Albert Bryan Jr. signed an executive order Monday establishing an Advisory GERS Funding Task Force to create a funding plan for the Government Employees' Retirement System.
After 8-Hours of Debate, Senate Still Undecided on Cannabis Bill
Senators spent Friday scrutinizing a 60-page piece of legislation proposed by Gov. Albert Bryan that would revise the Virgin Islands Cannabis Use Act, but after eight hours debate the lawmakers were divided as to whether the measure was ready.
Trustee Wants to Prove GERS Investments Aren’t Bad
Trustee Nellon Bowry defended GERS's record on return on investments, arguing that when politicians and residents say the problem is poor investments they ignore the obvious – GERS pays out much more in annuities then it collects in contributions.
GERS Board Recommended Benefit Cut Effective Jan. 1
The board of the Government Employees Retirement system has recommended a 42 percent reduction in practically all benefit payments. The reduction would take effect on Jan. 1.
Now Playing “Attraction to Paris”
FROM FACEBOOK
The COVID-19 pandemic has robbed artists and performers of their audiences and the chance to earn a livelihood. #visource #usvi
STJ School of the Arts Announces Online Art Auction, Concert Series | St. John Source
stjohnsource.com
For artists in the Virgin Islands and around the world, The COVID-19 pandemic has robbed artists and performers of their audiences and the chance to earn a livelihood. The St. John School of the Arts ...
