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GERS officials testified before the Senate this week

(Friday, November 18, 2016)
Click to view Administrator Nibb's presentations from his Senate Committee on Finance appearance.

Administrator Austin L. Nibbs and GERS officials testified before the Senate Committee on Finance on Tuesday, November 15 and Wednesday November 16 on St. Croix and St. Thomas respectively.

During their appearance, Nibbs and GERS officials spoke in support of Bill No. 31-0353:  An Act providing for the disposition of proceeds from the rental or sale of the housing units acquired under the Operating Agreement with Limetree Bay Terminals, LLC., under Act No. 7806, requiring the proceeds to be used towards decreasing GERS’ unfunded liability. To view the Administrator’s presentation, click here

On the other hand, they expressed concerns with Bill No 31-0244:  An Act amending Title 3 Virgin Islands Code, chapter 27, section 733; chapter 28A, section 7701 and Title 4, chapter 8, section 122, regarding the retirement benefit program for members of the Judiciary and for other related purposes. To view the Administrator’s presentation, click here.