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Charlotte Amalie
Tuesday, August 9, 2022
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GERS Working with Finance to Reconcile Files

The Government Employees Retirement System reported Wednesday that it has been working with the V.I. Department of Finance to reconcile and update files of its members.

In the news release, GERS administrator Austin Nibbs said his staff and the Department of Finance have been reconciling and posting contributions and loan payments deduction files and missing notices of personnel action from the Division of Personnel.

To date, deduction files through Oct. 31 have been posted. Members will be advised when subsequent files have been posted in the system’s new real-time computer system. For that system to function effectively, Nibbs said, all electronic or manual files that are received from the Finance or any autonomous agency must be in balance and free of errors.

“We are extremely sorry for any inconvenience to our members who are applying for loans and cannot get qualified, and especially to our members who have applied for retirement and are waiting for their contributions to be posted to the system in order to retire," Nibbs said of the effort to update the files.

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He noted that GERS staff has been assisting the Finance staff with the reconciliation, "although this is not our responsibility to do so, mainly because these files are not generated by GERS or are under its control."

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The Government Employees Retirement System reported Wednesday that it has been working with the V.I. Department of Finance to reconcile and update files of its members.

In the news release, GERS administrator Austin Nibbs said his staff and the Department of Finance have been reconciling and posting contributions and loan payments deduction files and missing notices of personnel action from the Division of Personnel.

To date, deduction files through Oct. 31 have been posted. Members will be advised when subsequent files have been posted in the system's new real-time computer system. For that system to function effectively, Nibbs said, all electronic or manual files that are received from the Finance or any autonomous agency must be in balance and free of errors.

“We are extremely sorry for any inconvenience to our members who are applying for loans and cannot get qualified, and especially to our members who have applied for retirement and are waiting for their contributions to be posted to the system in order to retire," Nibbs said of the effort to update the files.

He noted that GERS staff has been assisting the Finance staff with the reconciliation, "although this is not our responsibility to do so, mainly because these files are not generated by GERS or are under its control."