by Mindy Aguon, KUAM NewsWednesday, May 21, 2008 Subscribe to Mindy's newsfeed
Government of Guam retirees can expect another partial payment of the cost of living allowance judgment, as checks are actively being cut. $9 million was deposited with the GovGuam Retirement Fund Tuesday afternoon, making the funds available for distribution. The money comes from the sale of the former Guam Telephone Authority via a $10 million promissory note.The Department of Administration has confirmed that it has begun the process of cutting the COLA checks for distribution by Thursday afternoon. Acting DOA director John Camacho confirms they have more than 3,300 checks totaling more than $7.7 million that will be mailed out by May 22.