New allotment needed to pay out COLA - KUAM.com-KUAM News: On Air. Online. On Demand.

New allotment needed to pay out COLA

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by Nick Delgado

Guam - The Government of Guam Retirement Fund's board of directors is now waiting for the Legislature to provide more funding in order for them to process more cost of living allowance class checks to the retirees. Retirement Fund Director Paula Blas says they were able to send out the checks for all COLA retirees that were owed $22,000 or less from the original settlement.

She told KUAM News, "There is no additional appropriation that has been provided, so until that is actually provided by the Legislature we're not going to be making any distributions on that."

To date, more than half of the COLA class retirees have passed away still waiting for a check. Blas adds that they are still processing residents that are beneficiaries.

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