4 Guam Code Ann. § 8137
Terms Used In 4 Guam Code Ann. § 8137
- Amortization: Paying off a loan by regular installments.
- 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.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
(a) Government Normal Cost. An annual amount resulting from the application of a rate percent of total salaries of all members representing the present value of the actuarial reserve requirement for membership service, for such year, for service retirement annuity, disability retirement annuity, and annuities to widows and children, and the one- year term premium for the Government’s liability for death benefits, after taking credit for the contributions.
(1) From July 1, 1955 to August 30, 1972, the rate of contributions shall be seven and two hundred eighty- seven thousandths percent (7.287%) of the total salaries of the members participating in the Fund.
(2) From September 1, 1972, the rate of contribution shall be seven and six hundred ninety- seven thousandths percent (7.697%) of the total salaries of the members participating in the Fund.
(3) From July 1, 1976, the rate of contribution shall be eight and six hundred ninety-seven thousandths percent (8.697%) of the total salaries of the members participating in the Fund.
(4) From October 1, 1981, the rate of contribution shall be ten and six hundred ninety-nine thousandths percent (10.699%) of the total base pay of the members participating in the Fund and ten and six hundred ninety- nine thousandths percent (10.699%) of the pay for which members opted to contribute eight and one-half percent (8.5%) as provided in Section 7 of this Act.
(5) From the beginning of the first full pay period following the beginning of the 1992 fiscal year, the rate of contribution shall be six and ten-thousandths percent (6.010%) with respect to both pay and non-base pay for
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which members opted to contribute as provided in
Section 7 of this Act.
(6) From October 1, 1993, the rate of contribution with respect to both base pay and the pay for which members opted to contribute as provided in Section 7 of this Act shall be equal to the Government Normal Cost rate percent determined in the latest completed actuarial valuation prepared for the Board of Trustees by the actuary appointed by the Board.
(b) Government Unfunded, Liability Amortization
Cost.
(1) An amount resulting from the application of a rate percent of total salaries of all members which will amortize the remaining liability for prior service over a period of eighty (82) years following May 1, 1951.
(A) From July 1, 1955, to August 30, 1972, the rate of contribution shall be not less than one and three hundred seventeen thousandths percent (1.317%) of the total salaries of the members participating in the Fund.
(B) From September 1, 1972, the rate of contributions shall be not less than one and four hundred and seven thousandths percent (1.407%) of the total salaries of the members participating in the Fund.
(C) From the beginning of the first full pay period following the beginning of the 1992 fiscal year, the rate of contribution shall be equal to thirteen and six hundred sixty-five thousandths percent (13.665%) of the total salaries of the members participating in the Fund.
(D) From October 1, 1993, the rate of contribution shall be equal to the Government Unfunded Liability Amortization Cost rate percent determined in the latest completed actuarial valuation prepared for the Board of Trustees by the
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actuary appointed by the Board, subject to the approval by I Liheslaturan Guåhan by legislation.
(E) From March 1, 2003, until the next completed actuarial valuation prepared for the Board of Trustees by the actuary appointed by the Board, the rate of contribution shall be eighteen percent (18%) of the total salaries of the members participating in the Fund.
(F) Thereafter, the contribution shall be equal to the Government Unfunded Liability Amortization Cost rate percent prepared for the Board of Trustees by the actuary appointed by the Board, subject to approval by I Liheslaturan Guåhan by legislation, which will amortize the remaining liability for prior service for the full period authorized herein.
(2) The amount of contributions by the Government shall be determined by applying the applicable percentage rate of contributions as hereinabove prescribed to the total salaries paid to the members during each payroll period, and all such amounts shall be paid into the Fund following the close of each payroll period, concurrently with the contributions made to the Fund by the members. For purposes of this Section, the term total salaries of members shall be interpreted to include Base Pay, as defined in 4 Guam Code Ann. § 8301(l), of members participating in the Government Defined Contribution System.
(c) An amount resulting from the application of a rate equal to average rate of return on the investment of retirement funds in the preceding fiscal year of total delinquent payments during the period when such payments are delinquent. In addition an amount equal to one percent (1%) per year of delinquent payments shall be paid over the Fund as penalty for late payment. As used in this Section, delinquent payments means payments due the Fund pursuant to 4 Guam Code Ann. Section 8136 and Subsections (a) and (b) of this
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Section which are not paid over to the Fund within ten (10)
working days after issuance of payroll checks.
(d) In addition to all other contributions made by the government to the Retirement Fund pursuant to this chapter, the government shall pay as a an additional contribution to the Fund one percent (1%) of the total salaries of all members, effective October 1, 1988 through the last full pay period prior to enactment of this Section. These payments shall be first applied towards any unfunded liability of the Fund, if there be any.
(e) (1) (A) From October 1, 2000, the Government rate of contribution for agencies receiving appropriations from I Liheslaturan Guåhan [the Legislature] and for Federally funded programs shall equal 18.6%.
(B) From October 1, 2001, the government rate of contribution for agencies receiving appropriations from I Liheslaturan Guåhan [the Legislature] and for Federally funded programs shall equal 85% of the sum of the contribution rates required under §§ 8137(a) and 8137(b) up to a maximum of 19.8016%.
(C) From October 1, 2002, the Government rate of contribution for agencies receiving appropriations from I Liheslaturan Guåhan and for Federally funded programs shall equal twenty-six percent (26.0%).
(D) From March 1, 2003, the Government rate of contribution for agencies receiving appropriations from I Liheslaturan Guåhan [the Legislature] and for Federally funded programs shall equal eighteen percent (18%) and thereafter shall be one hundred percent (100%) of the sum of the contribution rates required under § 8137(a) and adopted by the Board pursuant to § 8137(b).
(2) (A) From October 1, 2000, the government rate of contribution for autonomous agencies not
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receiving appropriations from I Liheslaturan Guåhan shall equal one hundred percent (100%) of the sum of the contribution rates required under §§ 8137(a) and 8137(b) up to a maximum of twenty-one percent (21%).
(B) From October 1, 2002, the government rate of contribution for autonomous agencies not receiving appropriations from I Liheslaturan Guåhan shall equal one hundred percent (100%) of the sum of the contribution rates required under §§ 8137(a) and 8137(b) up to a maximum of twenty-six percent (26%).
(C) From March 1, 2003, the government rate of contribution for autonomous agencies not receiving appropriations from I Liheslaturan Guåhan shall be eighteen percent (18%), and thereafter shall equal to one hundred percent (100%) of the sum of the contribution rates required under § 8137(a) and adopted by the Board pursuant to § 8137(b).
(f) The debt service relative to the Thirty Million Dollars ($30,000,000) for Fiscal Year 2002 for the supplemental annuity benefits; cost of living allowance; I Maga’lahen Guåhan and I Segundu na Maga’lahen Guåhan’s pensions; retiree group health, dental and life insurance premiums; retiree life insurance subsidy; and Medicare premiums shall be paid from the 1.2016% increase in Employer Contributions for Fiscal Year 2002 over the FY2001 contribution rate of 18.6% for positions funded by Public Law Number 26-35, as amended by Public Law Numbers 26-
36 and 26-47.
(g) (1) For Fiscal Year 2002, separately, the Guam Power Authority, the Guam Telephone Authority, the Guam Waterworks Authority, the A. B. Won Pat International Airport Authority, the Guam Economic Development Authority, the Guam Housing Corporation, the Government of Guam Retirement Fund, the Port Authority of Guam, and the Guam
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Visitors Bureau shall remit to the Government of Guam Retirement Fund an amount equal to the number of employees which are retired from each entity multiplied by the amounts of:
(A) Four Thousand Two Hundred Thirty-eight Dollars ($4,238.00), known as the sum of the One Thousand Two Hundred Dollars ($1,200.00), One Thousand Five Hundred Dollars ($1,500.00), Seven Hundred Dollars ($700.00) and Eight Hundred Thirty-eight Dollars ($838.00) supplemental annuity benefits formerly contained in various General Appropriation Acts; and
(B) One Thousand One Hundred Dollars ($1,100.00), known as the latest cost of living adjustment.
(2) Each of the above listed entities shall also remit to the Government of Guam Retirement Fund the amounts necessary to defray the cost of Medicare premiums for Retirees of those agencies and their survivors who are eligible to receive social security income benefits and are required under the government of Guam group health insurance program to pay such premiums to continue to participate in such health insurance program, failing which they are excluded therefrom (to continue existing programs contained in the monthly payments).
(3) The remittances required herein shall be made in two (2) equal installments and shall be due on or before December 31st and March 31st, respectively. The Government of Guam Retirement Fund shall promulgate, continue and amend, if necessary, previous administrative procedures to ensure the proper submission, receipt and accounting of all sums remitted in conformance with this section.
(h) (1) Board’s Power to Enforce. The Board of the Government of Guam Employees’ Retirement Fund may file in Superior Court a Petition for Writ of
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Mandate to compel any government official who is so obligated to pay or transfer money to the Retirement Fund for employee or employer contributions to the Fund.
(2) Remedies. At the court’s discretion, failure to comply with a Writ of Mandate issued pursuant to this Section after notice and a hearing shall be subject to contempt of court proceedings.
(3) Costs and Attorney’s Fee. If the Board’s petition is granted, the court shall award costs and a reasonable attorney’s fee, which shall be paid from funds of the official’s agency.
(4) Dismissal after Payment. If payment of the delinquent amount is made within fifteen (15) days after filing the petition for Writ, the petition shall be dismissed.
SOURCE: GC § 4219, as amended by P.L. 11-171; subsection (a)
amended by P.L. 16-009 (May 5, 1981). Codified by the Compiler as 4
GCA § 8137. Subsection (c) added by P.L. 17-053:25 (June 4, 1984). Subsection (b) amended by P.L. 17-066:10 (Aug. 8, 1984). Subsection (d)
added by P.L. 19-019:58 (Aug. 22, 1988). Entire section amended by P.L.
22-006:8 (Mar. 28, 1993). Subsection (b) amended by P.L. 23-042:2 (Sept.
29, 1995). Subsection (e) repealed and reenacted by P.L. 26-035:IV:8 (Sept. 28, 2001) and P.L. 26-036:22 (Oct. 1, 2001). Subsection (f) added
by P.L. 26-036:24 (Oct. 1, 2001), amended by P.L. 26-049:1 (Oct. 12,
2001). Subsection (g) added by P.L. 26-049:2 (Oct. 12, 2001). Subsection
(e) repealed and reenacted by P.L. 26-152:IV:2 (Sept. 30, 2002). Subsection (b) amended by P.L. 27-005:IV:20 (Feb. 28, 2003). Subsection
(e) amended by P.L. 27-005:IV:21 (Feb. 28, 2003). Subsection (h) added
by P.L. 28-038:2 (June 2, 2005). Subsection (g) amended by P.L. 30-
101:23 (Mar. 12, 2010). Subsection (b) amended by P.L. 33-186:9 (Sept.
14, 2016).
2022 NOTE: Subsection (e) as codified herein specifies the Government’s rate of contribution to the Government of Guam retirement fund for FY2001 to FY2003. The rate of contribution has been changed by subsequent legislation, but without amending subsection (e).
Past publications of the GCA included a Cross-Reference annotation of those session laws that amended the rate of contribution after FY2003, noting that “”the Government’s rate of contribution to the Government of Guam retirement fund shall increase yearly on an actual funded basis.”” This list has been reproduced and updated below:
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P.L. 27-029:V:2 (Sept. 19, 2003); P.L. 27-106:VI:3 (Sept. 30, 2004); P.L. 28-068:IV:13(Sept. 30, 2005); P.L. 28-150:V:3 (Sept. 30,
2006); P.L. 29-019:VI:2 (Sept. 29, 2007); P.L. 29-113:VII:23 (Sept.
30, 2008); P.L. 30-055:XIII:3 (Sept. 4, 2009); P.L. 30-196:XIII:3 (Sept. 10, 2010; P.L. 31-074:I:4 (June 6, 2011); P.L. 31-077:XIII:3
(Sept. 20, 2011); P.L. 31-233:XIII:5 (Sept. 7, 2012); P.L. 32-
068:XIII:3 (Sept. 11, 2013); P.L. 32-181:XIII:3 (Sept. 5, 2014); P.L.
33-066:XIII:3 (Sept. 6, 2015); P.L. 33-185:XIII:3 (Sept. 10, 2016); P.L. 34-042:XIII:3 (Sept. 15, 2017); P.L. 34-116:XIII:II:3 (Aug. 24,
2018); P.L. 35-036:XIII:3 (Sept. 4, 2019), P.L. 35-099:XIII:3 (Sept.
16, 2020); P.L. 36-054:XIII:3 (Sept. 11, 2021); P.L. 36-107:XIII:II:3 (Sept. 12, 2022).
2018 NOTE: Subitem designations added/altered pursuant to authority granted by 1 Guam Code Ann. § 1606.