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Government Employees Retirement System (GERS)

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CHRISTIANSTED — Governor Albert Bryan is trying to find ways to avoid a possible 42 percent cut to its government pensions effective January 1. In addition to refinancing its matching funds bonds, and taxing legalized marijuana, Bryan is now suggesting a sales tax on retail items imported to the territory.

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CHARLOTTE AMALIE — The Virgin Islands’ Matching Fund Securitization Corporation will seek to refinance nearly $1 billion in outstanding matching fund bonds this week. The Legislature approved the deal in a Special Session held Thursday night. Senators passed the bill on an eight-to-six vote. The Matching Fund Securitization Corporation is

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CHRISTIANSTED — Governor Albert Bryan Jr. said today the territory can bank $255 million over the next three years if the government consolidates its debt right now. The governor has proposed legislation that will create a “significant” revenue stream for the U.S. Virgin Islands and reduce overall interest rates on the

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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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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 remitted payment of all outstanding

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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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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 address many long-standing infrastructural needs

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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, Warren Mosler and you understand

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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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