4 Guam Code Ann. § 8205
Terms Used In 4 Guam Code Ann. § 8205
- 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.
- Contract: A legal written agreement that becomes binding when signed.
- Fiduciary: A trustee, executor, or administrator.
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4 Guam Code Ann. PUBLIC OFFICERS & EMPLOYEES
CH 8 RETIREMENT OF PUBLIC EMPLOYEES
Contribution Retirement System. In selecting such company or companies the Board shall take into account as its highest fiduciary duty, the proper safeguard and protection of the member and employer contributions, and the interest dividends, or other returns thereon. The Board shall promulgate rules regarding the proper investment of funds.
(b) The Board may borrow monies to effectuate the purposes of this Article, including, but not limited to, monies loaned from the Government of Guam Retirement Fund for interim financing for survivor death insurance and pre-retirement disability insurance premiums to the extent that they were offered under the Defined Contribution Retirement System.
SOURCE: Amended by P.L. 24-200:5 (May 8, 1998). Amended by P.L.
26-162:8 (Dec. 31, 2002).
2018 NOTE: Subsection designations added pursuant to authority of 1
GCA § 1606.