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Thursday, June 24, 2021
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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.

Senate Wants More Time to Consider Bryan’s Bill to Bail Out GERS

Instead of taking immediate action on Gov. Albert Bryan Jr.'s bill to create a new funding source for the Government Employees' Retirement System, the V.I. Senate moved the measure to the Finance Committee for a hearing at 11 a.m. on Thursday.

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.

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