by Clynt Ridgell, KUAM NewsWednesday, May 21, 2008 Subscribe to Clynt's newsfeed
Government of Guam retirees can expect another partial payment of the cost of living allowance judgment as the Bank of Guam deposited $9,000,000 with the GovGuam Retirement Fund Tuesday afternoon. COLA class counsel 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 $10,000,000 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.