The new chairman of the Government Employees' Retirement System, Dwayne A. Callwood, has removed former Chairman Nellon Bowry as chair of GERS's Budget and Investment Committee, another concerning development coming on the heels of a recent cash infusion into the system by the government of the Virgin Islands of $158 million. Mr. Bowry, who only this month resigned his position as board chairman following a decision by the board to approve a pay increase of $250,000 for GERS Administrator Austin Nibbs, is the most knowledgeable board member on matters of finance. Mr. Bowry's most recent government role prior to the GERS chairmanship was director of the Office of Management and Budget during the Mapp administration. Mr. Callwood's decision came as part of a committee assignments action, and Mr. Bowry was reassigned to lead a development committee.…
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Just over a week after it was approved by the 34th Legislature, Governor Albert Bryan on Tuesday signed into law a bill allowing the V.I. government to seek funding in the bond market to undergird the...
Senators who make up the 34th Legislature will have before them on Monday a measure that proponents say will finally stabilize the Gov't Employees' Retirement System. The measure, numbered 34-0188, w...
Ronald Russell, a member of the Board of Trustees of the Government Employees' Retirement System, on Friday was not in support of a proposed plan that proponents say will fully or substantially fund ...
Legislation aimed at stabilizing the Government Employees' Retirement System sponsored by Senator Kurt Vialet and developed in collaboration with Governor Bryan and his team, along with 34th Legislatu...
Nellon Bowry, chairman of the Government Employees’ Retirement System says a new financial advisor of Governor Albert Bryan has put together a proposal that will stop G.E.R.S. from becoming insolv...
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...
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