GMH faces suit for not paying Retirement Fund - KUAM.com-KUAM News: On Air. Online. On Demand.

GMH faces suit for not paying Retirement Fund

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by Lannie Walker

Guam - The Guam Memorial Hospital is facing a lawsuit by the Government of Guam Retirement Fund for failure to pay contributions. Joe T. San Agustin, chairman of the GGRF's board of directors, says the island's only public hospital stopped paying in August and currently owes $3.3 million for the Defined Benefits Plan and Direct Contribution Plan.

The board filed a lawsuit in the Superior Court of Guam on November 12. "Basically, the consequences of this action is no one from the GMH can retire unless this is fully paid unless this is up to date," San Agustin told KUAM News. "So if any GMH employees wish to retire they can't."

Another consequence: if any employee of GMH passes away the Retirement Fund cannot pay their survivors any compensation. Currently a judge has not been assigned to the case.

Meanwhile, the amount due continues to grow as a 12.3% interest rate is applied. San Agustin says by the end of the month the agency could owe a total of $5 million.

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