BREAKING

GERS Issues Bonus Payments to Eligible Retirees Following Rectification of Glitch

Community Center Published On November 02, 2022 04:47 PM
Staff Consortium | November 02, 2022 04:47:54 PM

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The computer glitch that was delaying pension annuity disbursements from the Government Employees’ Retirement System has been resolved, Government House made known during Monday's press briefing.

According to Bryan administration Director of Communications, Richard Motta, the technical issue that caused a slight delay in the direct deposit of October’s pension annuity to government retirees apparently was a software issue at at one of the main banks that works with the GERS.

“That is now corrected, so, if you are one of those retirees affected, your direct deposit should be available now, according to the latest information from the GERS,” Mr. Motta said.

Last week Senator Donna Frett-Gregory, who sponsored legislation to ascertain that retirees over the age of sixty receive their statutorily mandated bonuses made available through V.I. Lottery funds, lashed out at GERS, contending that GERS has failed to demonstrate urgency to remit the payments.

In response, GERS said the payments that were scheduled to be issued by Oct. 31 would be delayed "due to technical issues with the files. Our software developer is working with staff to rectify the problems."

According to the pension system, the net bonus payments after taxes that will be paid in accordance with Act No. 8578 (Bill No. 34-0167) are: FY 2018 - $108.92, FY 2019 - $100.20, and FY 2020 - $156.61. The beneficiaries of deceased retirees will receive their payments, GERS said, adding that it will advise retirees when the bonus payments will be released.

Retirees who have any issues can contact the GERS at 340-776-7703 in the St. Thomas-St. John District or 340-718-5480 on St. Croix.

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