$15 million in COLA paid to GovGuam retirees
Tuesday, October 21st 2014, 5:03 PM ChST
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!”