Vialet Defends Executive Pension Cap Bill Amid Criticism, Urges Colleagues to Act

Senator Kurt Vialet is moving forward with legislation that would cap the annuity amounts paid to the territory’s top elected officials, citing fiscal responsibility as his primary motive. The bill, No. 36-0032, aims to prevent future runaway pension costs by fixing the base salaries used in retirement calculations for the governor and lieutenant governor at $150,000 and $125,000, respectively. The measure was filed following the implementation of salary increases for the governor and lieutenant governor, as recommended by the Virgin Islands Public Officials Compensation Commission (VIPOCC). Governor Albert Bryan Jr.’s salary rose from $150,000 to $192,000, and Lieutenant Governor Tregenza Roach’s from $125,000 to $168,000. Under current law, both officials are eligible to receive retirement annuities equal to 80% of their salaries after completing eight years in office. Without legislative intervention, the new salaries will significantly increase their post-retirement earnings—up t...