Guam - Like thousands of you waiting for a check, the Government of Guam Retirement Fund is also looking forward to receiving one of its own. The Fund is set to receive $24.8 million that will clear debts owed by public sector agencies for employee and employer contributions. 

Retirement Fund Director Paula Blas says the money will clear the outstanding debts of the Guam Memorial Hospital and the Department of Education.  It will also pay back the contributions the government failed to remit between June and September of last year when the Calvo Administration reduced the employer contributions.

"The fund will use those bond proceeds for pension, annuity payments as well as probably put some in investments," said Blas. She added that the entire government has been current with their contributions this fiscal year and hopes agencies realize how important and costly it is to stay on track with the payments.