VIDEO: Retirement Fund Concerned Governor’s Budget Overlooks Retiree Reimbursements

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Guam- The Government of Guam Retirement Fund Board of Trustees is not too happy with Governor Eddie Calvo’s bond borrowing component of his budget proposals. 

READ Retirement Fund Chair Joe T. San Agustin’s letter to Senator Ben Pangelinan

They are reminding lawmakers and the Governor that if language isn’t included to repay the debt owed to retirees in the bond legislation, they will be forced to sue GovGuam.

Read the agreement promising to repay contributions owed to the Retirement Fund

However, the Governor responded Wednesday saying the retirement fund repayment agreement is from a General Obligation Bond and the bond he is proposing is different. It is called a Limited Obligation Bond.