82.1 F
Charlotte Amalie
Thursday, August 18, 2022
HomeNewsArchivesChristmas ‘Bonus’ for V.I. Government Retirees

Christmas ‘Bonus’ for V.I. Government Retirees

The Government Employee Retirement System will make a bonus payment to V.I. government pensioners on Nov. 22, according to a statement from GERS.

In 2008, the V.I. Legislature enacted legislation creating the bonuses, funded from net V.I. Lottery revenues, for pensioners who are at least 60 years of age and have been receiving the pension for at least one year.

The Government Employee Retirement System received $1,091,093.91 from the Virgin Islands Lottery to make the annual bonus payment to the retirees, according to the GERS announcemen.

Sen. Shawn-Michael Malone sponsored the legislation, along with then-Sen. Carlton "Ital" Dowe. A slew of now former senators cosponsored it. The legislation [Act 7070] actually calls for $2.27 million from lottery revenues to be spent on the cash gifts to retirees, but has been limited by available lottery revenues, and is about $1.1 million this year

Print Friendly, PDF & Email
Keeping our community informed is our top priority.
If you have a news tip to share, please call or text us at 340-228-8784.




1 COMMENT

Support local + independent journalism in the U.S. Virgin Islands

Unlike many news organizations, we haven't put up a paywall – we want to keep our journalism as accessible as we can. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. We know that informed communities are empowered ones. If you appreciate our reporting and want to help make our future more secure, please consider donating.

FROM FACEBOOK

Comments Box SVG iconsUsed for the like, share, comment, and reaction icons
Load more

The Government Employee Retirement System will make a bonus payment to V.I. government pensioners on Nov. 22, according to a statement from GERS.

In 2008, the V.I. Legislature enacted legislation creating the bonuses, funded from net V.I. Lottery revenues, for pensioners who are at least 60 years of age and have been receiving the pension for at least one year.

The Government Employee Retirement System received $1,091,093.91 from the Virgin Islands Lottery to make the annual bonus payment to the retirees, according to the GERS announcemen.

Sen. Shawn-Michael Malone sponsored the legislation, along with then-Sen. Carlton "Ital" Dowe. A slew of now former senators cosponsored it. The legislation [Act 7070] actually calls for $2.27 million from lottery revenues to be spent on the cash gifts to retirees, but has been limited by available lottery revenues, and is about $1.1 million this year