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Terms Used In 4 Guam Code Ann. § 8108

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
(a) Prior Service. Prior Service credit shall be granted any employee who served in the Armed Forces of the United States prior to his employment with the government of Guam as though such service was rendered for the government of Guam, provided the employee shall not be receiving a pension or annuity, other than a disability pension or annuity, from the United States Government on account of such prior service or is eligible to receive such pension or annuity on account of such prior service.

(b) Subsequent Service. An employee shall be allowed credit for any active service in the Armed Forces of the United States subsequent to May 1, 1951, not to exceed five (5) years, provided that if the employee entered the Armed Forces while employed by the government of Guam and re-enters its employ within the period of one (1) year following his discharge from said Armed Forces under conditions other than dishonorable, or if upon said discharge, completes his education under the provisions of the various Acts of Congress extending educational benefits to veterans and re-enters its employ within six (6) months after completing such education, such employee may obtain said retirement credit (not to exceed five (5) years) without making contribution to the Fund, provided that the contribution of both the employee and the employer for such service shall be made by the government of Guam or the employer involved.

COL 8/23/2023

4 Guam Code Ann. PUBLIC OFFICERS & EMPLOYEES
CH 8 RETIREMENT OF PUBLIC EMPLOYEES

If the employee was not employed by the government of Guam upon entering the Armed Forces he may obtain said retirement credit (not to exceed three (3) years) only upon making payment to the Fund of two (2) times the appropriate member contribution based on the period of credit sought to be obtained and the average salary paid the employee by the Armed Forces during that period ending with the termination of his military service which is equal to the period of credit sought to be obtained; provided, that while any employee may claim and pay in for such credit, no such credit shall be counted until and unless the employee has actually, subsequently worked for the government of Guam, its autonomous instrumentalities or agencies, for whatever time is otherwise required by law for vesting. For purposes of this Section, salary means (1) basic pay, and (2) any special pay which was taxable under federal income tax law.

SOURCE: GC § 4207; Repealed and reenacted by P.L. 12-151 (June 28,
1974); Subsection (b) amended by P.L. 12-180 (Oct. 12, 1974) and
Repealed and reenacted by P.L. 19-019:54 (Aug. 22, 1988).

NOTE: See the Note following § 8136 regarding computation of interest at time of repayment to the Fund.