4 Guam Code Ann. § 8206
Terms Used In 4 Guam Code Ann. § 8206
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
(b) Any employee who leaves government service after September 30, 1995 who is later reemployed by the Government of Guam shall become a member of the Defined Contribution Retirement System, except persons who are ineligible for membership under § 8206.l; provided, that he or she shall be entitled to readmission to the existing retirement system in which he or she was originally a member if such employee has not
128
COL 8/23/2023
4 Guam Code Ann. PUBLIC OFFICERS & EMPLOYEES
CH 8 RETIREMENT OF PUBLIC EMPLOYEES
withdrawn his or her contributions from the existing retirement system. However, if such employee has withdrawn his or her contributions from the existing retirement system, the readmission to the existing retirement system shall not be permitted and the employee will be entitled only to membership in the Government of Guam Defined Contribution System in accordance with this Article.
(c) Any employee who retires after September 30, 1995, and who later becomes re-employed by the Government of Guam shall be entitled to re-admission to the existing retirement system and subject to suspension of annuity requirements pursuant to Title 4
GCA § 8121, as amended. If such re-employed retiree is prohibited from re-admission to the existing retirement system
and becomes a member of the Defined Contribution Retirement
System, his annuity under the existing plan shall be suspended in the same manner and to the same extent applicable to similarly
situated employees pursuant to Title 4 Guam Code Ann. § 8121, as amended,
provided that no employee of I Liheslaturan Guåhan who has previously retired may become a member of the Defined Contribution Retirement System.
(d) An employee whose employment commences after October 1, 2005 and whose employment is purely temporary, seasonal, intermittent or part-time shall be a member of the Defined Contribution Retirement System unless the employee is eligible for re-admission to the existing retirement system.
SOURCE: Amended by P.L. 28-141:3 (July 18, 2006).
NOTE: With respect to the amendment of this section, P.L. 28-141:11 provides: “”This enactment shall take effect retroactively as of October 1,
2005, except as expressly provided herein.””