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Loan Payments

(Tuesday, May 25, 2010)
GERS Loan Promissory Note will be strictly enforced effective June 1, 2010

Effective June 1, 2010, the Government Employees’ Retirement System (GERS) will strictly enforce the following policy for all members to include any active member pending retirement or disability:


The GERS Loan Promissory Note provides that if for any reason you are separated from service before you retire, you are required to make your bi-weekly payments directly to the GERS in the same amount as paid while you were in service.  After a loan has been delinquent for a period of sixty (60) days or more, the entire unpaid principal balance, all accrued interest and late fees shall at once become due and payable, and will be deducted from your contributions.  Such a deduction will result in a loss of credited service, thereby affecting your eligibility for a service retirement annuity. 


Should you have any questions regarding this policy, please contact the GERS offices (Loans Division) at 776-7703 or 773-5480.