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 contributions and withholdings to GERS, […]
Tag: Government Employees Retirement System (GERS)
Governor Mapp Takes Steps To Shore Up GERS Financially In Advance of Elections
[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. The island’s fiscal year starts […]
Mapp Says He Has Had Ways To Solve GERS Financial Crisis … But Is Only Telling Us Now
[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 the Government’s annual contribution to […]
Mapp Cabinet Meets on St. Croix to ‘Advance Storm Recovery’ … Calls It ‘Unique Opportunity’
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 in our community and we […]
PART TWO: Gubernatorial Candidate Mosler Maps Out A Viable Future for GERS (REVISED!)
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 Modern Monetary Theory, then you […]
Mapp Says Hurricanes’ Aftermath Won’t Keep Territory From Making Its Bond Payments
[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, secure, and valuable,” Mapp said. […]