Title 4, Public Officers and Employees

(a) Units or shares of any exchange traded fund (ETF) established as an open-end investment management company or a unit investment trust registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as from time to time amended. Although ETFs m…

(a) Entire first mortgages on improved unencumbered real property located in the United States, any state or territory thereof, or the District of Columbia, provided that the amount loaned does not exceed seventy-five percent (75%) of the fair market value of such property, the w…

In cases of demonstrated need, loans or loan guarantees not secured by real property interests may be made to members of the Retirement Fund who are then currently employed by the government of Guam for the purpose of facilitating purchase and ownership of single-family residenti…

The Director of the Retirement Fund shall institute such arrangements as are necessary with the respective lending institutions to facilitate processing and servicing of the loan or loan guarantee. SOURCE: GC § 4225.18, as added by P.L. 13-056:6 (Sept. 22, 1975). Repealed by P.L.…

For the purposes of obtaining a supplemental loan or loan guarantee to facilitate the purchase, repair, remodeling or extension of an owner-occupied, single-family dwelling by a member of the Retirement Fund, and only for these purposes, the restriction in § 8166 of this Chapter …

An adequate system of accounts and records shall be established and maintained for the Fund that will reflect fully the requirements of the provisions of this Chapter. This system shall be integrated, to the extent possible, with the accounts, records and procedures of the Govern…

All assets of the Fund shall be credited according to the purposes for which they are held in the following designated reserve accounts: (a) Members’ Contribution Reserve. The amounts contributed by the members shall be credited to this reserve, together with regular interest the…

Each member shall, by virtue of the payment of contributions to the system, receive a vested interest in such contributions and in consideration of such vested interest, shall be conclusively deemed to undertake and agree to pay the same and to have the amounts deducted from his …

(a) It is the intention of this Chapter that rights to retirement funds, disability or survivor’s annuities or benefits, death benefits, or refund of whatever kind, not be attached by judicial proceeding, or assigned, or transferred for payment of any debt, except for: (1) Court …

(a) Any service retirement annuity, disability retirement annuity or any other annuity provided herein shall be payable in equal semi-monthly installments as life annuities, or as temporary annuities, as the case may be and shall not be increased, decreased, revoked or repealed, …

It is the intention of this Chapter that the payment of the required contributions by the Government shall be an obligation of the Government and all allowances, annuities, benefits and administration, custodial and audit fees shall be paid from the Fund. SOURCE: GC § 4231.

Any person who knowingly makes any false statement or falsifies or permits to be falsified, any record or records of this system, in any attempt to defraud the system, is guilty of a misdemeanor and shall be punishable therefor under the laws of the government of Guam, and the sy…

The provisions of this Chapter shall apply to any person who has served as a member of I Liheslatura or who shall hereafter serve as such a member and any such person shall be considered a member of the Fund entitled to all the benefits of a member based upon the following additi…

Notwithstanding provisions of law, rules, regulations or administrative practices to the contrary, the survivor of a deceased member of I Liheslatura may contribute for subsequent credit for the deceased COL 2026-05-05 member in accordance with the schedule set forth in § 8170 of…

Sigundo Maga’hågan/Maga’låhen Guåhan and Their Survivors. Notwithstanding any provisions of this Chapter to the contrary: (a) Any person who is elected I Maga’håga/Maga’låhi or I Sigundo Maga’håga/Maga’låhi may retire following the completion of her or his term of office as I Mag…

Except as authorized by the Board of Trustees, no transfers of funds are authorized from any Retirement Fund account to the General Fund or any other fund of the government of Guam. I Maga’håga/Maga’låhi shall have no transfer authority over any Retirement Fund accounts. SOURCE: …

As used in this article, unless the context otherwise requires: (a) “Defined contribution system” means the Government of Guam Defined Contribution Retirement System created and established by this Article; (b) “Existing retirement system” means the Government of Guam Retirement …

The Defined Contribution Retirement System is hereby created and established to provide for the secure, fair, and orderly retirement of personnel of the Government of Guam. The Defined Contribution Retirement System shall constitute a body corporate and all business of the system…

The provisions of this Article shall be liberally construed so as to provide an individual account retirement system for any person who is employed in the government of Guam. The purpose of the Article is to provide a defined contribution retirement program which is fully funded …

The Board of Trustees created pursuant to Article 1 of Chapter 8 of this Title shall administer the Government of Guam Defined Contribution Retirement System. The board may sue and be sued, contract and be contracted with and conduct all the business of the defined contribution s…

Contribution Retirement System. (a) The Board has all powers necessary to effectuate the purposes of this Article. The Board may contract with an insurance, annuity, mutual fund, or other qualified company or companies to administer the operations of the Defined Contribution Reti…

Participation in Existing Retirement System. (a) Beginning October 1, 1995, the Government of Guam Defined Contribution System shall be the single retirement program for all new employees whose employment commences on or after that date. No additional new employees may be admitte…

The following persons shall not be eligible for membership: (a) Persons whose services are compensated on a fee basis. (b) Independent contractors. (c) Persons whose employment is for a specific project. (d) Persons who are employed in the Senior Citizens Community Employment Pro…

(a) Any member with less than twenty (20) years service credit, recognized under the existing system, may, upon written election, voluntarily elect membership in the Government of Guam Defined Contribution COL 2026-05-05 System, on a prospective basis, on or after October 1, 1995…

(a) All contributions by the members shall be mandatory. (b) From the operative date through December 31, 2017, contributions shall be equal to five percent (5%) of base pay. On and after January 1, 2018, contributions shall be equal to six and two tenths percent (6.2%) of base p…

(a) [No text] (1) Each employer shall, pursuant to § 8208, make a contribution to each member’s account with respect to each member whose employment commenced on or after October 1, 1995, or who transfers to the Defined Contribution Retirement System pursuant to § 8207, which is …

(a) Rollover of Member’s Contributions. Amounts transferred from the Member’s Contribution Reserve in accordance with Subsection (a) of § 8164 of this Chapter shall be deposited to the member’s account established for the benefit of the member under a trust agreement, and shall b…

The government shall pay the employer’s and member’s Government of Guam Defined Contribution Retirement System contributions, group health insurance premiums, and group life insurance premiums for all officers and other employees of the government of Guam who are on leave without…

(a) A member’s interest in the following shall be fully and immediately vested and nonforfeitable: (1) members’ contributions, pursuant to § 8208; (2) rollover of member’s contributions pursuant to Subsection (a) of § 8209.1, including amounts rolled over from other qualified ret…

(a) Normal and Early Retirement. At any time after a member reaches the early retirement age of fifty- five (55) years and has completed five (5) years of employment for vesting purposes, or reaches the normal COL 2026-05-05 retirement age of sixty-five (65) years, that person ma…

(a) The amount of benefit payments a retired member shall receive shall be based solely upon the balance in the member’s account at the date of retirement, the retirement option selected, the actuarial life expectancy of the member, and such other factors as normally govern annui…

The board shall authorize the private pension, insurance, annuity, mutual fund, or other qualified company or companies with whom it contracts to make available to members such supplemental annuity options, disability and other insurance or benefits.

The Board shall prepare, or cause to be prepared, on a quarterly basis, an account statement for each member’s account, to include the amount of the member’s contributions, employer contributions, rollover contributions and amounts maintained in the transfer incentive reserve, pl…

A member of the Government of Guam Defined Contribution Retirement System who leaves government service with a participating employer and does not withdraw any funds from his or her account and becomes reemployed with a participating employer within five years shall retain his or…

The right of any person to a benefit provided for in this Article shall not be subjected to execution, attachment, garnishment, the operation of bankruptcy or insolvency laws, or other process whatsoever, nor shall any assignment thereof be enforceable in any court, except court …

(a) Fees Or Charges Paid By Participants. The Board of Trustees may provide for administrative fees or charges to be paid by participants in the following manner: (1) For fiscal years beginning October 1, 1995, and October 1, 1996, the Board of Trustees may assess an amount up to…

The Board of Trustees will be responsible for implementation of the new defined contribution plan and the completion of the following implementation steps: (a) Establishment of procedures to withhold member and employer contributions and transferring of such contributions to a te…

[Repealed.] SOURCE: Original § 8219 dealing with “Deferred Compensation” repealed by P.L. 24-268:2 (Aug. 17, 1998). Current section added by P.L. 25-157:12 (July 10, 2000). Repealed by P.L. 26-086:2 (May 17, 2002) and replaced by 4 GCA § 4108(h). ARTICLE 3 DEFERRED COMPENSATION P…

As used in this Article, unless the context otherwise requires: COL 2026-05-05 (a) “Deferred Compensation Program” or “Program” means the government of Guam Deferred Compensation Program created and established by this Article. (b) “Board of Trustees” or “Board” means the Board o…

Participation in Government of Guam Deferred Compensation Program; Limiting Participation in Existing § 457 Plans. (a) There shall be established the Government of Guam Deferred Compensation Program, hereinafter referred to as “Program,” to which member contributions, in the form…

The provisions of this Article shall be liberally construed so as to provide a Deferred Compensation Program for any member which is funded on a current basis from elective member contributions.

The Board of Trustees created pursuant to Article 1 of Chapter 8 of this Title shall administer the Government of Guam Deferred Compensation Program. The Board may sue and be sued, contract and be contracted with, and conduct all the business of the Deferred Compensation Program …

Retirement System in the Administration of the Deferred Compensation Program. (a) Adoption of Formal Written Plan and Trust Arrangement. The Board of Trustees shall be responsible for the adoption of a formal written plan setting forth all the terms and conditions of the Program,…

(a) Deductions from Salary. Member contributions in the form of deductions from salary shall not exceed the limits prescribed by Code § 457, as amended. The employer shall contribute or pay these member deducted contributions from the same source of funds which is used in paying …

(a) Subject to the approval of the Board of Trustees, the Director shall develop and establish a procedure by which common administrative expenses shared among the Government of Guam Retirement Fund, the Government of Guam Defined Contribution System and the Program, taking into …

(a) The amount of benefit payments that a retired member shall receive shall be based solely upon the balance in the member’s deferred compensation plan account at the date of retirement, the retirement option selected, the actuarial life expectancy of the member, if applicable, …

The Board of Trustees shall prepare or cause to be prepared, on a quarterly basis, an account statement for each member’s account. The statement shall include, but shall not be limited to, a statement of the current market value of the member’s account. The Board of Trustees shal…

As used in this Article, unless the context otherwise requires: (a) “Base Pay” means an employee’s stated rate of pay; (b) “Board” means the Board of Trustees of the Government of Guam Retirement Fund, which also is responsible for the direction and operation of the affairs and b…

The Welfare Benefit Plans for Defined Contribution Retirement System members as described herein shall be created and established to provide employee welfare benefits as reasonable and necessary to fulfill the purposes of this Article. The business of each welfare benefit plan cr…

The provisions of this Article shall be liberally construed so as to provide, to the extent practicable, similar, although not necessarily equal, pre-retirement disability and survivor death benefits as those provided to members of the Defined Benefit Plan, and to provide other e…