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Government Employees Retirement System (GERS)

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CHRISTIANSTED — Governor Albert Bryan, Jr. issued the following statement today on the proposed use of a one-time $39 million Medicaid reimbursement to the government of the U.S. Virgin Islands:“The Bryan-Roach Administration has made its priorities clear to the public and will continue its work toward those priorities.” “Since taking

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[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] CHARLOTTE AMALIE – In accordance with the proposal submitted in March 2018 to the Government Employees Retirement System (GERS) and the United States District Court for the Virgin Islands, Commissioner of Finance Valdamier Collens, said to all government employees that the Department of Finance has

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[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] CHARLOTTE AMALIE — Gov. Kenneth Mapp said this week that he was taking steps in his proposed budget to prop up the faltering Government Employees’ Retirement System (GERS). Mapp presented his proposed fiscal year 2019 budget to Virgin Islands Senate President Myron Jackson on Wednesday.

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[ad name=”HTML-68″]   [wpedon id=”23995″ align=”left”] CHARLOTTE AMALIE — Gov. Kenneth Mapp said he has had ways to “revitalize” the Government Employees Retirement System (GERS) through legislation — but didn’t reveal them until now. In a letter to Senate President Myron D. Jackson Thursday night, Mapp proposed restoring solvency of GERS by increasing

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[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] CHRISTIANSTED — Governor Kenneth Mapp and Lieutenant Governor Osbert Potter met with cabinet members on Monday to discuss strategies to coordinate and accelerate the spending of anticipated federal funds to strengthen the territory’s recovery from Hurricanes Irma and Maria. “We have a unique opportunity to

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[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] CHRISTIANSTED — If you’re a Virgin Islands government employee who will be eligible for a pension when you retire, there is only one thing on your mind: Will the Government Employee Retirement System (GERS) still be solvent then? And if you’re independent candidate for governor,

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  [ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] CHARLOTTE AMALIE — The aftermath of Hurricanes Irma and Maria will not prevent the territory from making its bond payments, Gov. Kenneth Mapp said in his State of the Territory speech. “Bondholders can be assured that their investments in Virgin Islands’ securities are safe,

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RISKY BUSINESS: The Government Employees Retirement System (GERS) building in St. Thomas. The pension system does not have enough money to pay the $4.5 billion due to retirees. The New York Times says GERS made questionable “high risk” investments in things like viaticals. (PHOTO COURTESY: Mireya Acierto for The New York Times)

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     Finance’s Valdamier Collens CHARLOTTE AMALIE – Cash is no longer king with the Virgin Islands government. At least when it comes to government employees paying into their insurance fund. Finance Commissioner Valdamier Collens said today that cash will no longer be accepted accepted at Government Employees Retirement System

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CHARLOTTE AMALIE – The maker of the Keurig single-cup coffee system must face a securities fraud class-action lawsuit, the Second Circuit ruled last week. Five employee retirement systems – including the GERS – acquired stock in Green Mountain Coffee Roasters Inc., which manufactures Keurig coffee makers. The plaintiffs are the retirement

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