Bryan signed executive order creating advisory task force on GERS funding

Gov. Albert Bryan Jr. signed an executive order on June 22, 2020, establishing an Advisory GERS Funding Task Force to develop a funding plan for the Government Employees’ Retirement System.

According to Government House, the 12-member task force was to include a member selected by the delegate to Congress, two members chosen by the Senate president, one retired government employee, and one government employee age 35 or younger with fewer than eight years of service. The members were to serve as advisers to the governor and meet monthly until their work was completed.

The order directed the task force to examine short-term bailout options, temporary measures and longer-term restructuring of the retirement system for current and future retirees; consider amendments to existing GERS law and recommendations for new provisions; develop funding measures to pay GERS obligations and eliminate future obligations; and prepare a GERS funding plan for the governor.

Government House said task force members would serve without compensation and would have four months from the date the group was fully appointed to submit an initial funding plan.

Official source: https://www.vi.gov/governor-bryan-signs-executive-order-establishing-advisory-gers-funding-task-force/