Title 3, Executive

(a) An application for an annuity shall be in writing, addressed to the Administrator. The annuity when granted shall begin as of the first day of the month next following the date of withdrawal from service. In no case shall an annuity become effective prior to the aforesaid dat…

(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 compen…

No retiree of the federal government, the Government of the Virgin Islands, or of the private sector shall be employed by the Government of the Virgin Islands on a contractual basis the compensation of which exceeds the highest rate of salary received by that employee before reti…

(a) In lieu of the retirement allowance for his life alone, a member, but not a retired member, may elect, to revoke or change a previous election, to have the actuarial equivalent of his retirement allowance as of the date of retirement applied to provide a lesser retirement all…

(a) Any member who becomes totally and permanently incapacitated for service as the proximate result of bodily injuries sustained or a hazard undergone while in the performance and within the scope of his duties, shall receive a duty disability retirement annuity if the injuries …

(a) When the proximate cause of death of a member is as a result of bodily injuries sustained or a hazard undergone while in the performance and within the scope of his duties, if the injuries or hazard were not the consequence of the willful misconduct of the member, the survivi…

(a) Any member under age sixty having at least nine years of credited service who becomes totally and permanently disabled for service, either mentally or physically, from any cause other than duty disability shall be entitled to a non-duty disability retirement annuity. (b) The …

(a) At least once each year during the first five years following the allowance of disability retirement annuity to any member, and at least once in every three-year period thereafter, until a member's attainment of age 65, the System shall require any disability beneficiary to u…

(a) Upon the death of a member while in service, if no duty-connected death annuity is payable, a payment of the accumulated contributions of the deceased member is payable to a beneficiary whom he has designated. (b) Upon the death of a retired member, unless an optional benefit…

(a) Upon withdrawal from service, any member who does not have ten years of credited service and is not then eligible for a service retirement annuity is entitled to receive a refund of the accumulated contributions, plus regular interest as defined in section 751, including cont…

(a) There is hereby created a new retirement program for members of the Legislature of the Virgin Islands. Membership in the System for members of the Legislature currently in service shall be optional. Each member currently in service on the date of enactment of this section sha…

(a) [Reserved for future use.] (b) The Board is vested with the discretionary investment strategy authority to vary the investment criteria set out in this section by no greater than 25% of the aggregate amounts specified. The Board is prohibited from changing the securities rati…

(a) The various obligations of the system must be financed in accordance with actuarial reserve requirements from contributions by members, contributions by the employer, interest income, and other income accruing to the system. From time to time, the Board may actuarially calcul…

Any person eligible who elects to participate in the early retirement program shall contribute any additional amounts to the retirement system as required by rules and regulations adopted by the Board with respect to retroactive payments. The Board shall adopt rules and regulatio…

A retiree who is paid retroactive wages is not subject to payment of any contribution to the System from such retroactive wages. The System shall refund to the retiree any such contribution withheld from the payment of the retroactive wages.

Notwithstanding any provision of this chapter, participation in any early retirement program is voluntary for eligible employees, as defined in this chapter. Any person eligible for early retirement may elect within one year of eligibility to participate in the regular retirement…

(a) A member who is participating in the early retirement program and subsequently transfers to a position that generally would not qualify him to participate in the early retirement program, he may, if he already has accrued ten years of credited service in the eligible position…

For the purposes of sections 767a through 767e of this chapter, “persons eligible for early retirement” means a police officer, firefighter, including a firefighter employed by the Virgin Islands Port Authority, Virgin Islands marshals and probation officers of the Superior Court…

Notwithstanding any contrary provision of this chapter, the Board may not increase employer or employee contribution amounts to the system without obtaining legislative approval.

(a) The right of any member or other beneficiary to an annuity, benefit or refund accrues as of the date of enactment of this chapter. (b) Except as otherwise provided, any annuity provided herein is payable for life in equal semi-monthly installments on the fifteenth and last da…

(a) Except as specifically provided otherwise in this chapter and subject to subsection (b), the rights of a person to any annuity or benefit or right accrued or accruing to any person under the provision of this chapter and the various monies in the system created by this chapte…

(a) Any member having accumulated unused sick leave at date of retirement is entitled to service credit towards the service retirement annuity to which the member may be entitled. The credit for accumulated unused sick leave is one month for any period of fourteen to twenty-six d…

(a) [Deleted.] (b) Each person who becomes a member of the Judiciary after the date of enactment of this chapter, who is not a participant by previous appointment, shall automatically become a member of the system and be subject to compensation deductions hereunder, unless within…