"WAPA needs to do something!" That's the call from Hurbert Turnbull, a member of the governing board of the Virgin Island Water and Power Authority. Turnbull wants management to act with urgency about outstanding payments to the Government Employees' Retirement System, and says he is uncomfortable with the current situation. The Consortium recently reported on GERS's threat to pursue legal action against WAPA for the recovery of almost $2 million owed in employee deductions and employer contributions that were never turned over to the pension system, leaving close to a hundred WAPA workers in arrears on loans underwritten by GERS. GERS had requested settlement on the issue over the course of 18 months, but WAPA's Executive Director Andrew Smith had replied that the authority could not meet that timetable, and countered with a proposal to…
With newly replenished political capital following the historic accomplishment that has saved the territory's…
The Government Employees' Retirement System Board of Trustees at its Thursday meeting approved a motion…
Government House on Thursday announced that the government on behalf of all its branches entered into…
One of the Most Consequential Senate Hearings…
Linda Straker January 29, 2022Senators who make up the 34th Legislature will have before them on Monday a measure that proponents…
G.E.R.S. Chairman Stands By Government's Plan…
Linda Straker January 08, 2022Ronald Russell, a member of the Board of Trustees of the Government Employees' Retirement System, on…
Bill to Save GERS, Sponsored by Vialet With Collaboration…
Ernice Gilbert December 29, 2021Legislation aimed at stabilizing the Government Employees' Retirement System sponsored by Senator Kurt…
Plan to Avert Insolvency and Save G.E.R.S. at…
Linda Straker December 17, 2021Nellon Bowry, chairman of the Government Employees’ Retirement System says a new financial advisor of…
The V.I. Public Finance Authority board has approved an increase from $2 million to $2.6 million for services provided by Squire Patton Boggs, LLP, which has been providing the Bryan administration wi...
Government Employees' Retirement System Administrator Austin Nibbs said Thursday that the Water and Power Authority was nine pay periods behind on employer contributions, with an outstanding balance o...
Government Employees' Retirement System Administrator, Austin Nibbs on Monday discussed the dire situation the pension system is facing and possible solutions with senators as the calamitous reality o...
Governor Albert Bryan said Tuesday that he was open to securing a bond to help fund the Gov't Employees' Retirement System through the Public Finance Authority (PFA) in lieu of a special purpose vehic...
In what may be one of the most consequential legislation submissions in recent memory because it relates to the survival of the territory's pension system, Senator Donna Frett-Gregory has in the works...
Senate President Donna Frett-Gregory on Thursday said the lack of funding in Governor Albert Bryan's latest budget proposal for the Government Employees' Retirement System was “the elephant in the r...
The Government Employees' Retirement System board chairman on Thursday expressed disappointment that a planned meeting to discuss solutions for the system's impending collapse didn't happen, saying th...
Government Employees' Retirement System Board Chairman, Nellon Bowry, said Thursday he was optimistic for a potential solution to the G.E.R.S. looming insolvency following a meeting with seven senator...
Government Employees' Retirement System board members revealed during a Thursday board meeting that the government has failed to make full payments to the system through agreements mandated by law. Ac...
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