Preserve GERS

Dear Senator Berry;

The League of Women Voters of the Virgin Islands has been monitoring, with interest and equal concern, the proposed Bill No. 26-0200 and the discussions that have followed.

When Act 6794 became law, the basic position of the League concurred with that of the advocates for the preservation of the Government Employees’ Retirement System (APRS). At this juncture, we find no reason to change that stance.

We agreed with the concerns of APRS and Mr. Howard Rog of Segal that promises that will cost the GERS must be financed; that the make up of the GERS Board should reflect adequate member representation by including the election of two retirees and most importantly; that an impact analysis on proposed changes to benefit structure, investment strategy, and/or funding of the system, as required by the law, be prepared and presented to the public before enactment of amending legislation.

The League of Women Voters urges that prudence, based on facts, prevails.

Erva A. Denham, President,
League of Women Voters of the Virgin Islands