OF THE VIRGIN ISLANDS — Bill No. 34-0167
GOVERNMENT EMPLOYEES’ RETIREMENT SYSTEM OF THE VIRGIN ISLANDS “Contributing today for a better tomorrow” 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 Press Release For Immediate Release Date: Tuesday, September 27, 2022 Austin L. Nibbs, CPA, CGMA Administrator/CEO Bus.: 340.776.7703 • Fax: 340.776.4499 RETIREES TO RECEIVE ADDITIONAL VI LOTTERY BONUSES GERS Administrator/CEO, Austin L. Nibbs, would like to advise the retirees who received the annual V.I. Lottery Bonus for Fiscal Years 2018, 2019, and 2020, that they will be receiving the gross/net bonus payments as displayed below according to Act No. 8578 (Bill No. 34-0167) which was sponsored by Senator Donna A. Frett Gregory, and signed by Governor Albert Bryan, Jr. on Monday, August 8, 2022. …
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GOVERNMENT EMPLOYEES’ RETIREMENT SYSTEM OF THE VIRGIN ISLANDS “Contributing today for a better tomorrow” 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 Press Release For Immediate Release Date: Tuesday, September 27, 2022 Austin L. Nibbs, CPA, CGMA Administrator/CEO Bus.: 340.776.7703 • Fax: 340.776.4499 RETIREES TO RECEIVE ADDITIONAL VI LOTTERY BONUSES GERS Administrator/CEO, Austin L. Nibbs, would like to advise the retirees who received the annual V.I. Lottery Bonus for Fiscal Years 2018, 2019, and 2020, that they will be receiving the gross/net bonus payments as displayed below according to Act No. 8578 (Bill No. 34-0167) which was sponsored by Senator Donna A. Frett Gregory, and signed by Governor Albert Bryan, Jr. on Monday, August 8, 2022. Year ACT 8578 Retiree Count Gross Tax Rate Tax Deduction Net Pay 2018 $1,015,005.93 7254 $139.92 22% $ 31 $ 108.92 2019 $928,825.37 7245 $128.20 22% $ 28 $100.20 2020 $1,491,162.84 7433 $200.61 22% $44 $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.