Act No. 8171 (33rd Legislature) — An Act amending section 13 of Act No. 7261 to increase the annual appropriation from the Internal Revenue Matching Fund to the Government Em
ACTNO. 8171 BILL NO. 33-0014 THIRTY-THIRD LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2019 An Act amending section 13 of Act No. 7261 to increase the annual appropriation from the Internal Revenue Matching Fund to the Government Employees’ Retirement System from $7,000,000 to $10,000,000 and to allocate forty percent of the appropriation to pay outstanding employer contributions and sixty percent as direct contributions | Be it enacted by the Legislature of the Virgin Islands: SECTION 1. (a) Section 13 of Act No. 7261 is amended by striking “$7,000,000” and inserting “$10,000,000” in its place. (b) Section 13 of Act No. 7261, as amended by Act No. 8125, is amended by striking “for outstanding employer contributions” and inserting in its place “, forty percent (40%) of which shall be used for outstanding employer contributions, and sixty percent (60%) of which shall be used as direct contributions.” Thus passed by the Legislature of the Virgin Islands on May 15, 2019. Witness our Hands and Seal of the Legislature of the Virgin Islands this [7 As, of May, A.D., 2019. Novelle E. …
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