BREAKING

GERS

WAPA is 9 Pay Periods Behind On GERS Contributions, Owing $3.1 Million; Authority Says Funds Are Tight

Kyle Murphy | September 24, 2021

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 of $3.1 million. The matter drew attention during G.E.R.S.'s meeting Thursday, with board members discussing possible courses of action if WAPA fails to come current within 60 days. Mr. Nibbs said he would negotiate a payment plan with the authority, and said that if an agreement for payment fails, G.E.R.S. would pursue legal action. The administrator read a letter from Noel Hodge, WAPA interim executive director, which said WAPA was “working to secure the necessary funds to pay the authority’s outstanding employer contributions.” The letter cited unexpectedly "high fuel cost and a longstanding unfavorable regulatory and political environment"…

Could the Solution to GERS be a Substantial Annual…

Kyle Murphy | August 17, 2021

Government Employees' Retirement System Administrator, Austin Nibbs on Monday discussed the dire situation…

Bryan Open to Securing Bond for GERS Through Public…

Ernice Gilbert | June 17, 2021

Governor Albert Bryan said Tuesday that he was open to securing a bond to help fund the Gov't Employees'…

Frett-Gregory Drafts Bill to Use $40 Million in Excise…

Ernice Gilbert | June 15, 2021

In what may be one of the most consequential legislation submissions in recent memory because it relates…

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