$15 million in COLA paid to GovGuam retirees - KUAM.com-KUAM News: On Air. Online. On Demand.

$15 million in COLA paid to GovGuam retirees

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by Ken Quintanilla

Guam - Governor Eddie Calvo has ordered the release of payment for the annual Cost of Living Allowances to Government of Guam retirees. According to the Governor's Office, $15 million in checks was released to the Government of Guam Retirement Fund Thursday.

The FY2015 budget increased COLA lump sum payments from $1,800 to $2,000, a change that would impact over 7,600 government retirees and survivors.

In a release, Governor Calvo states “many of our retirees live on a fixed income and this cost of living allowance can be a huge help. I asked the Department of Administration to release the annual COLA funds early, and they got it out today. I hope it helps make the Christmas season a little brighter!” 

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