Come the end of September, 5,744 government retirees will get $395 to help ease their pain at the gas pump, pharmacy and grocery store. The funds will come from the V.I. Lottery.
Officials from the V.I. Lottery, Government Employees Retirement System, Sen. Carlton “Ital” Dowe and Gov. John deJongh Jr. presented a check transferred to GERS for nearly $2.3 million Friday in the Ballroom at Government House.
“This represents a tremendous stimulus in our economy,” deJongh said. “Now we are able to address the retirees who built up the islands and help with their needs.” He went on to reassure those assembled that the money didn’t come from the governments’ general fund. “This was a commitment made two years ago that we are now able to fulfill,” deJongh said.
“I recall the governor’s state of the territory message saying he will get this done,” said retiree George Harley, who worked at Gov. Juan F. Luis Hospital for 31 years. “I am glad to get more relief for my retirement.”
Dowe said he was encouraged, prompted and pushed by retirees to get them some assistance. Two years ago he started to work on the legislation with the Governor and GERS. On May 29, the 28th Legislature passed Dowe’s bill.
“The retirees need to at least get a little shot in the arm and take a little pressure off them,” Dowe said. “This will help with the WAPA bill, groceries and prescriptions. There are mechanisms in the legislation to go forward and we expect to do the same thing next September.”
“We had more than adequate cash reserves to honor the legislation,” said Conrad Francois, executive director of the V.I. Lottery. “The annual source all depends on reserves.”
Dodson James, St. Croix administrator, said the bill was passed because the community is being negatively affected by increases in the basic necessities of life. He said grocery prices have risen, prescription drug costs are on a steady increase, the cost of gasoline has risen, and the cost of electricity has skyrocketed.
To qualify for the bonus payment the pensioner must be at least 60 years old. They also have to be on the system’s retiree payroll for at least one year. They must be eligible to receive a cost of living increase by July 15 of the year in which the bonus is made.
“The retirees will be paid by Sept. 30,” added Austin Nibbs, GERS administrator. “This is a good thing for the retirees and the economy.”