(a) A member of the Government of Guam Retirement Fund who is eligible for retirement may retire upon the complete remittance of his outstanding individual contributions to the Fund, including the employee and employer retirement contributions. Any and all fees, interest at actuarial rates, and penalties required by the Government of Guam Retirement Fund shall be paid by the Government. (b) This Section shall not restrict the continuing remittance of existing Retirement Fund contributions as required by law or by the Government of Guam Retirement Fund. By the fifteenth (15th) day of each month, the Director of the Government of Guam Retirement Fund shall provide a detailed report to the Speaker of I Liheslaturan Guåhan regarding said remittances and the number of retirements pursuant to this Section during the previous month. Nothing herein shall be construed to abrogate any provision of § 8137(h) of Chapter 8, Title 4 GCA. SOURCE: Added as uncodified law by P.L. 32-068:XI:1 (Sept. 11, 2013), the FY2014 Annual Appropriations Act. Codified by the Compiler.
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2016 NOTE: Subsection designations added to adhere to the Compiler’s codification and alpha-numeric schemes pursuant to authority granted by 1 GCA § 1606. NOTE: This section was originally codified from GC § 4130, entitled “Student Employment; Annual Plan.” Codified as 4 GCA § 6506. The enactment of P.L. 14-110 (March 2, 1978), which created the Department of Youth Affairs, implicitly repealed this provision.
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