COL 8/23/2023

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

(a) Each participating employer shall make a contribution to the applicable welfare benefit account for the sole purpose of financing insurance premiums and administrative expenses related to the welfare benefit plans established under this Article, including pre-retirement disability insurance and survivor death insurance, in aggregate amounts equal to a designated percentage of such member’s base pay, the percentage to be determined on a quarterly basis by the Board within its sole discretion, in an aggregate amount not to exceed eight-tenths of one percent (0.8%) of each member’s base pay.
(b) Each participating employer shall ensure that its employer contributions are made within five (5) working days. In the case of an officer or an employee of the government of Guam, any unpaid employer contribution shall be a government debt, contracted as a result of a casual deficit in the government’s revenues, to be accorded preferred status over other expenditures.

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ARTICLE 5
DEFINED BENEFIT 1.75 RETIREMENT SYSTEM

SOURCE: Article 5 added by P.L. 33-186:3 (Sept. 14, 2016).

2018 NOTE: P.L. 33-186:6 (Sept. 14, 2016) included an uncodified provision regarding the applicability of Social Security coverage and the effect of such coverage, as follows:

Section 6. Social Security Option. If the government of Guam is authorized to extend Social Security coverage to government of Guam employees on a prospective basis, whether through one (1) or several voluntary agreements or through a specific statutory provision authorizing such extension, then all employees hired on or after the effective date or dates from which such coverage is extended shall be enrolled into Social Security and shall not be eligible for the Defined Benefit 1.75 Retirement System or the Guam Retirement Security Plan.