by Mindy Aguon, KUAM NewsTuesday, May 20, 2008 Subscribe to Mindy's newsfeed
Government of Guam retirees can expect another partial payment of the cost of living allowance judgment as the Bank of Guam deposited $9 million with the Government of Guam Retirement Fund Tuesday afternoon. COLA class counsel Attorney Mike Phillips confirms the funds are available for distribution. The money is made available from the sale of the former Guam Telephone Authority in the form of a $10 million promissory note. Phillips says he hopes the Retirement Fund works with the Department of Administration immediately to begin processing the COLA checks and have them cut in the next day or two.