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"…
Government Employees' Retirement System Administrator, Austin Nibbs on Monday discussed the dire situation…
Governor Albert Bryan said Tuesday that he was open to securing a bond to help fund the Gov't Employees'…
In what may be one of the most consequential legislation submissions in recent memory because it relates…
GERS Board Says Pressure Must be Kept on Government…
Ernice Gilbert May 28, 2021The Government Employees' Retirement System board chairman on Thursday expressed disappointment that…
GERS Chairman Optimistic That Insolvency Could…
Kyle Murphy April 23, 2021Government Employees' Retirement System Board Chairman, Nellon Bowry, said Thursday he was optimistic…
As GERS Bleeds Money, Attorney General Advises…
Ernice Gilbert March 27, 2021Government Employees' Retirement System board members revealed during a Thursday board meeting that…
GERS to Membership: There is no Money in the…
Staff Consortium March 12, 2021The Government Employees' Retirement System on Friday said it is not an eligible party to receive financial…
Government Employees' Retirement System Administrator, Austin Nibbs, told lawmakers that GERS draws down $120 million every year to pay retirees, and that the system's annual shortfall amounts to $150...
Governor Albert Bryan on Monday signed an executive order establishing an Advisory GERS Funding Task Force whose goal is to create a funding plan for the Government Employees’ Retirement System, Gov...
The Government Employees' Retirement System said Thursday that the Government of the Virgin Islands, supported by Governor Albert Bryan, has appealed a District Court judgement that ordered the local ...
ST. THOMAS — The clock is ticking on the solvency of the Government Employees' Retirement System (GERS). And, only cooperation between Gov. Albert Bryan and the Senate on a solution to the pension p...
Retirees on St. Croix clashed with police today as they descended on Government House in Christiansted to protest inaction by lawmakers and Governor Albert Bryan on the Government Employees' Retirem...
ST. CROIX — Retirees on St. Croix were stunned when they were told by officials of the Government Employees' Retirement System at a town hall meeting Tuesday that a 30 percent reduction in their mon...
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