Cruz requests special session for Hybrid Retirement System bill - KUAM.com-KUAM News: On Air. Online. On Demand.

Cruz requests special session for Hybrid Retirement System bill

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 by Krystal Paco

Guam - After two lengthy public hearings last month, Vice Speaker BJ Cruz is requesting for a special session for his Bill 394. The measure proposes a new Hybrid Retirement Plan System and was initially crafted by the late senator Ben Pangelinan and the Government of Guam Retirement Fund.

Board chairman Joe T. San Agustin says the bill is years in the making, saying, "I think it's long overdue perhaps but of course, this is what the policy makers have to decide what they want to do, apparently there has been opposition about it, the opposition came from people that probably had no vested interest in the plan, I haven't heard anyone from the 7,000 members that said no."

Cruz in a release says, "everyday government employees on the DC plan leave a lifetime of work without the dignity of a guaranteed safety net in their retirement years. This bill is about more than party politics, it's about people's live."
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