6 GMH Employees Denied Retirement; Retirement Fund Balance Now at $4.4M

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At least $270,000 of the amount owed are deductions that are voluntary, says GovGuam Retirement Fund Director Paula Blas.

Guam – Six employees at the Guam Memorial Hospital have been denied retirement because GMH has not paid the balance they owe to the Government of Guam Retirement Fund.

 

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In addition to the Guam Memorial Hopsital’s failure to remit payment to the GovGuam Retirement fund, they are also not paying for GMH employees deferred compensation plan.

Retirement Fund Director Paula Blas says GMH now owes $4.4 million.

Blas says of that amount, about $270,000 is for the deferred compensation plan and individual loan payments. This is a voluntary plan in which the payment is made 100 percent by the employee and there is no contribution from GMH.

Blas says as a result of GMH’s non-payment to the retirement fund, at least six GMH employees are unable to retire.

She also says that the retirement fund board legal counsel will be presenting the retirement fund with options on how to collect the funds owed by GMH, one of which is possible litigation.

As of last week Tuesday the hospital’s outstanding vendor payables was at $25.9 million.