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Hearing on alternatives on October 29

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by Sabrina Salas Matanane

Guam - Vice Speaker B.J. Cruz has set a public hearing that will allow the Government of Guam Retirement Fund as well as the Calvo Administration to come together to talk about their alternatives and compromise to the governor's spending cuts proposal. The GGRF's alternatives included a "Furlough Friday" plan, a voluntary separation incentive program coupled with a hybrid retirement plan and implementing a pension bond, while the Administration and the vice speaker proposed a compromise alternative to implement a smaller early retirement fund program limited to employees who are within five years of retiring and a ten-year temporary extension of the amortization period.

The public hearing has been scheduled for October 29 at 5:30pm in the Legislature's Public Hearing Room.

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