Chairman, Committee on Budget, Appropriations and Finance — Bill No. 36-0032
GOVERNMENT EMPLOYEES! RETIREMENT SYSTEM OF THE VIRGINGSLANDS Contributing today ba a batter tomorroy May 19, 2025 Honorable Novelle E. Francis, Jr. Chairman, Committee on Budget, Appropriations and Finance 36th Legislature of the Virgin Islands 3022 Estate Golden Rock C’sted, St. Croix, V.I. 00820 Dear Senator Francis, Thank you for your letter of invitation dated May 6, 2025, to testify on Bill No. 36-0032 — An act amending Title 33 Virgin Islands Code, Subtitle 3, Chapter 111, Section 3080 by limiting the salary amount used to compute the service retirement annuity for the Governor and Lieutenant Governor of the Virgin Islands. Please be advised that, per this referenced section of the Virgin Islands Code, the Commissioner of Finance shall maintain and provide for the administration of the “Elected Governors and Lieutenant Governors Retirement Fund”. It further states: “Monies shall be disbursed from the Fund by the Commissioner of Finance to retired elected Governors and Lieutenant Governors...”. Considering the above, we defer to the Commissioner of Finance regarding Bill No. …
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GOVERNMENT EMPLOYEES! RETIREMENT SYSTEM OF THE VIRGINGSLANDS Contributing today ba a batter tomorroy May 19, 2025 Honorable Novelle E. Francis, Jr. Chairman, Committee on Budget, Appropriations and Finance 36th Legislature of the Virgin Islands 3022 Estate Golden Rock C’sted, St. Croix, V.I. 00820 Dear Senator Francis, Thank you for your letter of invitation dated May 6, 2025, to testify on Bill No. 36-0032 — An act amending Title 33 Virgin Islands Code, Subtitle 3, Chapter 111, Section 3080 by limiting the salary amount used to compute the service retirement annuity for the Governor and Lieutenant Governor of the Virgin Islands. Please be advised that, per this referenced section of the Virgin Islands Code, the Commissioner of Finance shall maintain and provide for the administration of the “Elected Governors and Lieutenant Governors Retirement Fund”. It further states: “Monies shall be disbursed from the Fund by the Commissioner of Finance to retired elected Governors and Lieutenant Governors...”. Considering the above, we defer to the Commissioner of Finance regarding Bill No. 36-0032 and respectfully decline your invitation to testify on it. Ss, Angei E. Dawson Jr. Administrator and CEO 3438 Kronprindsens Gade | GERS Complex - Ste. 1 | St. Thomas, Vi 00802-5720 | 340.776.7703 3004 Estate Orange Grove - Ste. 1 | Christiansted, Vi 00820-4260 | 340.718.5480 ® www .usvigers.com