Title 3, Executive

Notwithstanding the provisions of this chapter, participation in the early retirement program shall be voluntary for eligible employees as defined by this subchapter. Any person eligible for early retirement may elect to participate in the regular retirement program with contribu…

(a) A person eligible for early retirement, transferred to a position which does not qualify as a person so eligible after at least ten years of service as a person so eligible may elect to continue to contribute at the additional rate of compensation, for which he shall receive …

For the purposes of sections 718a-718d of this chapter “person eligible for early retirement” means a policeman, fireman, including a fireman employed by the Virgin Islands Port Authority, Virgin Islands marshal and probation officer of the Superior Court, internal affairs agents…

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) An adequate system of accounts and records shall be established and maintained for the System that will give effect to the requirements of this chapter. This System shall be integrated, to the extent possible, with the accounts, records and procedures of the employer to the e…

It shall be the duty of the employer to provide the System with records concerning the periods of service, dates of birth, compensation, new entrants into service, deaths, withdrawals and such other data on the employees as is necessary for the proper and effective operation of t…

Effective as of October 1, 1959, there shall be transferred to this System all moneys, securities, loans receivable and other property to which title is held under applicable legislation relating to the existing retirement funds. The trustees of such retirement funds are hereby a…

Each member shall, by virtue of the payment of contributions to this 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 them deducted from his compen…

The right of any member or other beneficiary to any annuity, benefit or refund shall accrue as of the date of establishment. Except as herein specifically otherwise provided, any annuity provided herein shall be payable for life in equal semimonthly installments from the beginnin…

(a) Any person who knowingly makes any false statement, or falsifies or permits to be falsified any record of this system, in an attempt to defraud the system, is guilty of a felony, and on conviction shall be fined not less than $25,000 nor more than $100,000 and imprisoned not …

(a) The rights of a person to any annuity or benefit or right accrued or accruing to any person under the provisions of this chapter and the various moneys in the System created by this chapter, are hereby exempted from levy and sale, garnishment, attachment, or any other legal p…

An increase of ten ($10.00) dollars a month is hereby authorized and granted to each pensioner of the Government of the United States Virgin Islands who is a former Government Employee not covered under the Retirement Law of the Municipality of Saint Thomas and Saint John or the …

Each former official and employee of the Government of the United States Virgin Islands, or of the Municipality of Saint Thomas and Saint John or of the Municipality of Saint Croix, who is receiving a pension of less than seventy-five ($75.00) dollars a month from the Government …

Subject to the limitation set forth below, every person who is now receiving or may hereafter receive an annuity or a pension from the Government of the United States Virgin Islands, by virtue of any retirement law or by special legislation, is hereby granted a cost-of-living bon…

(a) Every person on July 1, 1966, who is receiving or who after July 1, 1966, may receive an annuity from the Government of the United States Virgin Islands by virtue of any retirement law and every person who, prior to January 1, 1966, received a pension from said Government by …

(a) Employees who retired on service retirement annuity prior to July 1, 1970, who were at least 55 years of age at date of retirement shall be entitled to receive a supplementary annuity under this section. (b) The Board may set cost-of-living increases for annuitants and pensio…

Every person who is receiving an annuity computed pursuant to the retirement law in existence prior to July 1, 1970, or who is receiving a special pension (regardless of when granted), is hereby granted a cost-of-living increase of ten percent (10%) in the amount of his annuity o…

(a) Subject to subsection (c), the System shall make an annual bonus payment from monies paid to the system under 32 V.I.C. § 246(j) to annuitants and pensioners who meet the requirements prescribed in subsection (b). (b) To qualify for the bonus payment established in subsection…

(a) Any member upon withdrawal from service on or after July 1, 1970, and retiring on a service or disability retirement annuity, shall be entitled to an annual increase in his basic retirement annuity as defined herein while he is in receipt of such annuity.(a) The term “basic a…

(a) Any member having accumulated and unused sick leave at date of retirement shall be entitled to service credit towards the service retirement annuity to which the member may be entitled. The credit for accumulated and unused sick leave shall be 1 month for any period of 11 to …

(a) Membership in the system for members of the Judiciary shall be optional, and shall be made available to members of the Judiciary who were in service after January 28, 1977. Salary deductions for new members of the system, at the rate prescribed herein, shall begin from the fi…

All payments required by this chapter to be made by the employer to the retirement fund are continuing obligations of the Government.

(a) All property, including funds of the System, shall be exempt from levy and sale by virtue of execution, and no execution or other judicial process shall issue against the same nor shall any judgment against the System be a charge or lien upon its property. However, this subse…

(a) Neither the government nor any agency, department, or instrumentality may fail or refuse to pay the employer's contribution required by this chapter within the applicable time limitation. (b) Whenever any agency, department, instrumentality, or employer fails to make timely c…

(a) Whenever a person entitled to a payment of a member's accumulated contributions or any other benefit fails to claim the payment or cannot be located or a Miscellaneous Disbursement Voucher is cancelled, the payment due to the member shall be disbursed in accordance with the p…

The Board may fix the time as it considers reasonable during which claims for benefits under section 737 may be made. Anyone who is provided a claim form must be given the same amount of time in which to file it as any other claimant. The Board's duty to identify or locate any me…

(a) If a person had no beneficiary designation in effect on the date of death, any benefit payable shall be paid to the survivors in the following order:(1) The decedent's spouse.(2) The decedent's natural or adopted children, including a natural child adopted by another who meet…

Notwithstanding title 5 Virgin Islands Code, chapter 3, any payment due the retirement system for services, repayment of loans or mortgages, or for the repayment of any amounts due to error or overpayment are not extinguished by the statute of limitations and shall accrue a maxim…

Notwithstanding any law, rule or regulation to the contrary, any eligible Virgin Islands Water and Power Authority employee, as defined in title 3 Virgin Islands Code, section 702(x), any eligible employee as defined in title 3 Virgin Islands Code, section 702(y) or any hazardous…

(a) A second tier retirement benefits program is established for officials and employees of the Government of the Virgin Islands and for their dependents and beneficiaries, for the payment of retirement annuities, disability annuities, and other benefits as provided herein to the…

(a) In this chapter:(1) “Tier II Retirement Benefits Program” mean the second tier system, as established in section 750 of this chapter, to be administered by the Employees Retirement System of the Government of the Virgin Islands.(2) “Member” means any employee included in the …

(a) The following persons shall be included as members:(a) Any person who enters the service of the Government of the Virgin Islands on and after October 1, 2005.(b) Any person who becomes an employee on or after the date of establishment shall become a member as a condition of e…

(a) Any employee who has left the service of the government after the date of establishment, and re-enters service thereafter, shall be entitled to receive credit for prior service rendered prior to predecessor systems. Additionally, the member shall pay to the System the withdra…

(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…