Retirement Fund consultants give market update
As nearly 1,300 COLA checks were handed out last week, the Government of Guam Retirement Fund is moving forward to ensure its pension fund is doing well in the market.
By KUAM NewsGuam - As nearly 1,300 COLA checks were handed out last week, the Government of Guam Retirement Fund is moving forward to ensure its pension fund is doing well in the market. Board chairman Joe T. San Agustin tells KUAM News that investment managers from Wilshire Consultants came out last week to provide the retirement fund on an update on the economic market and stock market.
"So far we're doing, considering the market fluctuations of the past, but we're not really, because we're a stable fund, so to speak, we don't panic as other people would do, we're doing really well so far," he explained.
He adds the board continues to work in ensuring that the Retirement Fund has enough money to pay annuities in order to distribute checks to thousands of retirees and not have any payless paydays.