For Immediate Release — Bill No. 34-0167
GOVERNMENT EMPLOYEES’ RETIREMENT SYSTEM “Contributing today for a better tomorrow” Press Release For Immediate Release Date: Tuesday, October 25, 2022 Austin L. Nibbs, CPA, CGMA Administrator/CEO Bus.: 340.776.7703 • Fax: 340.776.4499 DELAY IN RETIREES RECEIVING ADDITIONAL VI LOTTERY BONUSES GERS Administrator/CEO, Austin L. Nibbs, would like to advise the retirees who are entitled to receive the additional V.I. Lottery Bonus for Fiscal Years 2018, 2019, and 2020, that payments have been delayed due to technical issues with the files. Our software developer is working with staff to rectify the problems. The net bonus payments (after taxes) that will be paid in accordance with Act No. 8578 (Bill No. 34-0167) are: FY 2018 - $108.92, FY 2019 - $100.20, and FY 2020 - $156.61. The beneficiaries of the deceased retirees will receive their payments. The GERS will advise the retirees when the bonus payments will be released. 438 Kronprindsens Gade | GERS Complex – Ste. 1 | St. Thomas, VI 00802-5720 | 340.776.7703 3004 Estate Orange Grove – Ste. …
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GOVERNMENT EMPLOYEES’ RETIREMENT SYSTEM “Contributing today for a better tomorrow” Press Release For Immediate Release Date: Tuesday, October 25, 2022 Austin L. Nibbs, CPA, CGMA Administrator/CEO Bus.: 340.776.7703 • Fax: 340.776.4499 DELAY IN RETIREES RECEIVING ADDITIONAL VI LOTTERY BONUSES GERS Administrator/CEO, Austin L. Nibbs, would like to advise the retirees who are entitled to receive the additional V.I. Lottery Bonus for Fiscal Years 2018, 2019, and 2020, that payments have been delayed due to technical issues with the files. Our software developer is working with staff to rectify the problems. The net bonus payments (after taxes) that will be paid in accordance with Act No. 8578 (Bill No. 34-0167) are: FY 2018 - $108.92, FY 2019 - $100.20, and FY 2020 - $156.61. The beneficiaries of the deceased retirees will receive their payments. The GERS will advise the retirees when the bonus payments will be released. 438 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 OF THE V IRGIN I SLANDS