(a) Upon retirement from service, a member shall receive a service retirement annuity, payable semi-monthly, computed at the rate of 1.75% of his average compensation times the number of years of credited service, the aggregate of which shall not exceed 100% of his average compensation.(1) To the amounts of annual service retirement annuity produced by the application of the foregoing rates in any case in which average compensation is less than $4,000 per year shall be added the sum of $14.00 per year of credited service, and in any case in which average compensation is over $4,500 but not more than $6,000 per year, shall be added the sum of $7.00 per year of credited service; however, the foregoing shall not apply to any person with forty or more years credited service.(2) Notwithstanding any other provision of this chapter, the service retirement annuity of any member or special pensioner who has at least twenty years of credited service regardless of the retirement law in effect when the member retired shall be not less than $1,680 per year.
(1) To the amounts of annual service retirement annuity produced by the application of the foregoing rates in any case in which average compensation is less than $4,000 per year shall be added the sum of $14.00 per year of credited service, and in any case in which average compensation is over $4,500 but not more than $6,000 per year, shall be added the sum of $7.00 per year of credited service; however, the foregoing shall not apply to any person with forty or more years credited service.
(2) Notwithstanding any other provision of this chapter, the service retirement annuity of any member or special pensioner who has at least twenty years of credited service regardless of the retirement law in effect when the member retired shall be not less than $1,680 per year.
(b) In the case of a police officer, fireman, including a fireman or police officer employed by the Virgin Islands Port Authority, Virgin Islands marshal and probation officer of the Superior Court, or corrections officer or combination thereof:(1) The retirement annuity, for credited service of less than twenty years, shall be as provided in subsection (a) of this section. If the member is less than 55 years of age and has 20 years of credited service, the annuity must be calculated at 1.75%, and the member shall receive a reimbursement of the overage in excess of the contribution paid over the regular rate for contribution.(2) The retirement annuity for credited service of twenty years or more as a police officer, firefighter, including a fireman or police officer employed by the Virgin Islands Port Authority, Virgin Islands marshal and probation officer of the Superior Court, or corrections officer or a combination thereof, shall be the annuity produced by 2.10% of average compensation per year of credited service, but in no event may the retirement benefits payable to the person under the provisions of this chapter exceed 90% of average compensation, except as increased by paragraph (3) of this subsection; except, that any member qualifying for benefits under this paragraph may elect to receive the benefits or the benefits payable for his years of credited service under subsection (a) of this section.(3) Deleted.
(1) The retirement annuity, for credited service of less than twenty years, shall be as provided in subsection (a) of this section. If the member is less than 55 years of age and has 20 years of credited service, the annuity must be calculated at 1.75%, and the member shall receive a reimbursement of the overage in excess of the contribution paid over the regular rate for contribution.
(2) The retirement annuity for credited service of twenty years or more as a police officer, firefighter, including a fireman or police officer employed by the Virgin Islands Port Authority, Virgin Islands marshal and probation officer of the Superior Court, or corrections officer or a combination thereof, shall be the annuity produced by 2.10% of average compensation per year of credited service, but in no event may the retirement benefits payable to the person under the provisions of this chapter exceed 90% of average compensation, except as increased by paragraph (3) of this subsection; except, that any member qualifying for benefits under this paragraph may elect to receive the benefits or the benefits payable for his years of credited service under subsection (a) of this section.
(3) Deleted.
(c) Only a nurse, teacher or police officer receiving a service retirement annuity who reenters the service of the government either by appointment or on a contractual basis may continue to receive his annuity while a current employee of the Government, for a period not to exceed two years and at the end of such period the service retirement annuity shall be cancelled and the member shall thereupon again become a contributor to the system. Upon subsequent retirement, the member shall receive a retirement annuity that shall consist of (a) the previous retirement annuity which had been cancelled, and (b) the additional credited service earned during reemployment.
(d) Notwithstanding subsection (c), any retired member of the System, may reenter the service of the government in the executive branch by appointment for a period of time not to exceed six years without any effect on the member’s status as retired and without suspension or diminution of the member’s retirement annuity under the following conditions:(1) The prospective central government employing entity must obtain approval from the Director of the Division of Personnel after submitting a written request that states detailed reasons for employing the retired member. The respective hiring agency head of all other government entities is the officer required to approve hires under this provision. Before approving a request to employ a retired member, the appropriate officer must find that:(A) The retired member is qualified and competent for performance of the duties of the position in which member is to be employed;(B) There is an urgent need for the retired member’s services as a result of an existing vacancy for which the employing entity has been unable to recruit a qualified individual;(C) The hiring is non-permanent rather than a final filling of the position; and(D) The prospective employer has prepared a detailed recruitment plan to fill the vacancy on a permanent basis.(2) Upon approving employment of a retired member under this subsection, the appropriate officer must certify the approval to the System.(3) The retired member may reenter the government service not earlier than nine months from the date of the member’s retirement.(4) Upon reentering government service, the member and the employer must pay contributions to the System at the Tier II rate pursuant to section 767 of this chapter and the employer has a duty to pay its contribution to the System as provided in section 767. Notwithstanding any other provision in this title, the contributions paid to the System by a person reentering government service after retirement are not refundable after any subsequent retirement by the member.(5) Participants under the age of 65, must be enrolled in the Government health insurance program for active Government employees. The insurance premiums of the participants under 65 years of age must be withheld from their government employment salary. All participants age 65 and over must maintain the existing state of affairs with respect to their health insurance.(6) Upon subsequent retirement, the member’s annuity does not increase as a result of the member’s reemployment under this subsection.(7) Employment under this section must be made via the Notice of Personnel Action (NOPA) process, or the regular method of employment used by the hiring agency, except for recipients of professional services contracts awarded through the competitive bidding process.(8) Participants hired to fill unionized positions are subject to and must comply with the union’s collective bargaining agreement applicable to their position.
(1) The prospective central government employing entity must obtain approval from the Director of the Division of Personnel after submitting a written request that states detailed reasons for employing the retired member. The respective hiring agency head of all other government entities is the officer required to approve hires under this provision. Before approving a request to employ a retired member, the appropriate officer must find that:(A) The retired member is qualified and competent for performance of the duties of the position in which member is to be employed;(B) There is an urgent need for the retired member’s services as a result of an existing vacancy for which the employing entity has been unable to recruit a qualified individual;(C) The hiring is non-permanent rather than a final filling of the position; and(D) The prospective employer has prepared a detailed recruitment plan to fill the vacancy on a permanent basis.
(A) The retired member is qualified and competent for performance of the duties of the position in which member is to be employed;
(B) There is an urgent need for the retired member’s services as a result of an existing vacancy for which the employing entity has been unable to recruit a qualified individual;
(C) The hiring is non-permanent rather than a final filling of the position; and
(D) The prospective employer has prepared a detailed recruitment plan to fill the vacancy on a permanent basis.
(2) Upon approving employment of a retired member under this subsection, the appropriate officer must certify the approval to the System.
(3) The retired member may reenter the government service not earlier than nine months from the date of the member’s retirement.
(4) Upon reentering government service, the member and the employer must pay contributions to the System at the Tier II rate pursuant to section 767 of this chapter and the employer has a duty to pay its contribution to the System as provided in section 767. Notwithstanding any other provision in this title, the contributions paid to the System by a person reentering government service after retirement are not refundable after any subsequent retirement by the member.
(5) Participants under the age of 65, must be enrolled in the Government health insurance program for active Government employees. The insurance premiums of the participants under 65 years of age must be withheld from their government employment salary. All participants age 65 and over must maintain the existing state of affairs with respect to their health insurance.
(6) Upon subsequent retirement, the member’s annuity does not increase as a result of the member’s reemployment under this subsection.
(7) Employment under this section must be made via the Notice of Personnel Action (NOPA) process, or the regular method of employment used by the hiring agency, except for recipients of professional services contracts awarded through the competitive bidding process.
(8) Participants hired to fill unionized positions are subject to and must comply with the union’s collective bargaining agreement applicable to their position.
(e) Notwithstanding subsection (c), any retired member of the System, may reenter the service of the government in the legislative and judicial branches of the Government by appointment or by contract for a period not to exceed six years without any effect on the member’s status as retired and without suspension or diminution of the member’s retirement annuity under the following conditions:(1) Before approving a request to employ a retired member, the appropriate officer must find that:(A) The retired member is qualified and competent for performance of the duties of the position in which member is to be employed.(B) There is an urgent need for the retired member’s services; and(C) The hiring is non-permanent; and(2) The hiring must satisfy the requirements of subsection (d), paragraphs (2), (3), (4), (5) and (6).
(1) Before approving a request to employ a retired member, the appropriate officer must find that:(A) The retired member is qualified and competent for performance of the duties of the position in which member is to be employed.(B) There is an urgent need for the retired member’s services; and(C) The hiring is non-permanent; and
(A) The retired member is qualified and competent for performance of the duties of the position in which member is to be employed.
(B) There is an urgent need for the retired member’s services; and
(C) The hiring is non-permanent; and
(2) The hiring must satisfy the requirements of subsection (d), paragraphs (2), (3), (4), (5) and (6).
(f) A retiree who re-enters the service of the government to be employed by the University of the Virgin Islands, in the positions of faculty, medical education faculty, executive leadership in medical education and operational capacities in the medical simulation center; medical school and biomedical facility, educators in medical simulation, biomedical and robotics technologies and grant writers, may continue to receive an annuity from GERS for up to a period of six years while in receipt of salary from the University of the Virgin Islands if the retiree is enrolled in an alternative retirement system. In the third year after the enactment of this section, the Legislature of the Virgin Islands shall consider the economic effects of this section on the Government Employee Retirement System and the University of the Virgin Islands and may allow further extensions to the term of service under this section if necessary.