Prohibition on Double Computation of Cost of Living Adjustments for Retirees

Notwithstanding any other provision of law enacted prior to or subsequent to this Section, cost of living adjustments for members who retire after September 30, 1995 shall be computed by the Government of Guam Retirement Fund and retirement benefit supplements which may be given above the basic annuity shall not include sums which have already been included in the salaries upon which the basic annuity is calculated. The COLA payments contained in various General Appropriation Acts and previously applied to employees salaries and again, in a double computation, applied as retirees’ cost of living adjustments, known as the One Thousand Two Hundred Dollar ($1,200), One Thousand Five Hundred Dollar ($1,500), Seven Hundred Dollar ($700), and Eight Hundred Thirty-Eight Dollar ($838) annuity benefits, shall not be applied to cost of living adjustments for retirees. SOURCE: Added by P.L. 23-045:IV:6 (Oct. 18, 1995).