Over 1,300 Government Employees Show Interest in Revived GERS Loan Program

The Government Employees’ Retirement System (GERS) is currently reviewing over 1,300 applications from government workers interested in its revitalized personal loan program, according to CEO Angel Dawson. During the GERS Board of Trustees’ regular meeting on Tuesday, Dawson highlighted the smooth operation of the system designed to capture these expressions of interest.

Dawson commented on the efficiency of the process, stating, “Our system has worked well in terms of receiving the expressions of interest.” The GERS staff is now tasked with organizing these submissions and is expected to start scheduling appointments by April 29, as previously announced.

Dawson assured the board that GERS possesses sufficient funds to accommodate the demand. He explained, “If each of the 1,329 expressions of interest were ultimately approved, we would be looking at approximately $12.6 million in personal loans.” He emphasized that this figure is comfortably within the $20 million allocation approved by the board for this purpose.

He optimistically noted that the reintroduction of the limited personal loan program is progressing well, indicating a positive start.