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GERS

G.E.R.S. Chairman Stands By Government's Plan to Save Pension System in Face of Opposition From Board…

Linda Straker | January 08, 2022

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 the pension system to a point where solvency will be taken off the table. Mr. Russell, a former senator, was referring to a joint proposal that will allow for the refinancing and restructuring of a significant portion of the debt of the government of the Virgin Islands at current market interest rates to free up critically needed revenues to stabilize G.E.R.S. G.E.R.S. is forecast to become insolvent by 2024, and the proposed legislation should finally address a problem that has vexed the territory for years, said the Bryan administration late December. Mr. Russell placed his stance on record while listening to G.E.R.S. Board Chairman Nellon Bowry justify…

Bill to Save GERS, Sponsored by Vialet With Collaboration…

Ernice Gilbert | December 29, 2021

Legislation aimed at stabilizing the Government Employees' Retirement System sponsored by Senator Kurt…

Plan to Avert Insolvency and Save G.E.R.S. at No Cost…

Linda Straker | December 17, 2021

Nellon Bowry, chairman of the Government Employees’ Retirement System says a new financial advisor of…

Bryan Says New Scheme Will 'Permanently Resolve' G.E.R.S.…

Ernice Gilbert | November 29, 2021

The V.I. Public Finance Authority board has approved an increase from $2 million to $2.6 million for…

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