GFT has taken action in the Superior Court of Guam against the Government of Guam Retirement Fund for inaccurate calculations of retirement income for public safety and law enforcement officers. PL29-105 mandated that all public safety and law enforcement officers be paid an additional forty-percent (40%) pay increase over a four (4) year period (10% each year beginning in October 2008). The increase was not paid accordingly; but instead the amount was paid in lump sum. Rather than using salary amounts when the 40% increase was paid, the Retirement Fund is using salary amounts when the increase was supposed to be paid out; causing these employees to lose significant earnings towards retirement.
GFT is inviting all current and retired GovGuam public safety and law enforcement officers to meet with GFT representatives and its attorney to discuss this matter. A meeting will be held on Thursday, April 12, 2018 at the UOG School of Business and Public Administration building room #131 at 6PM. All those concerned are highly encouraged to attend this meeting.
YOU SHOULD ATTEND THIS MEETING IF:
• You received the forty-percent (40%) public safety and law enforcement pay mandated by PL29-105.
OR
• You are a retired GovGuam public safety and law enforcement officer during or after PL29-105.
OR
• You are a current GovGuam public safety and law enforcement officer under the Defined Benefit “Old Plan” retirement plan.