Contributing today for a better tomorrow. | |
Relevant news, updates, and resources for your retirement planning! | |
Message from the Administrator/CEO | |
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Dear Esteemed Readers,
A warm welcome to each of you! It is, truly, a great honor to serve as your new Administrator/CEO of the Virgin Islands Government Employees' Retirement System (GERS). I extend my deepest gratitude to Mr. Austin Nibbs, my predecessor, for his unwavering dedication and service to the GERS.
With a strong commitment to excellence in administration and financial management, I have dedicated my career to fostering positive change and innovation. My journey has been guided by a belief in the power of collaboration, creativity, and lifelong learning. As we embark on this journey together, I am excited to lead the GERS toward becoming a model retirement system that empowers the people of the U.S. Virgin Islands both economically and socially.
Over the past year, the GERS has achieved remarkable milestones and demonstrated a steadfast commitment to excellence through transformative projects. One such project is the Havensight Mall Hotel development, which has received recognition domestically and internationally for its strategic partnerships and forward-thinking initiatives.
Our goals and objectives in 2024 encompass a range of impactful projects, from the upcoming advancements in the Benefits Administration (V3) system and GERS website to initiatives focused on sustainability. The V3 system and website enhancements promise to deliver an enhanced user experience, further streamlining transactions for all stakeholders. These projects reflect our dedication to creating tangible solutions that make a difference in the lives of our active members and retirees.
Furthermore, I am pleased to announce that we are on track to restart the Personal Loans Program no later than April 30, 2024. We are also in the process of revitalizing the Havensight Mall. These initiatives will rejuvenate our community and create exciting opportunities for members, business owners, residents, and visitors alike.
As we approach our 65th Anniversary on October 1, 2024, and celebrate the 5th Anniversary of our Customer Service Unit in March 2024, I am filled with excitement for the future. We remain dedicated to serving you, our retirees and active members, with the utmost care. Our journey has been marked by success and growth, and I am proud to be a part of this incredible team.
In the coming editions, we look forward to sharing more updates, stories, and insights into the heart of the GERS. Together, let us shape a future defined by innovation, collaboration, and positive impact.
“Contributing today for a better tomorrow.”
Best Regards,
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The Government Employees’ Retirement System (GERS) is excited to announce the restart of its Limited Personal Loans Program, scheduled to commence no later than April 30, 2024, as approved by the Board of Trustees at the January 25th meeting. Every October, the GERS Board of Trustees will determine whether the Personal Loans Program will be reauthorized for the following calendar year, based upon relevant financial and other data.
Key details of the program include:
Funding Allocation: For 2024, there will be a total of $20 million available for personal loans, with $10 million allocated per district. After those amounts are exhausted no further personal loans shall be made by the GERS in 2024.
Eligibility: Active members with a minimum of two years of credited service (contributions) to the Government of the Virgin Islands are eligible to apply.
Loan Amount: Individuals can apply for a personal loan of up to $10,000 or 75% of their contributions, whichever is less. The maximum amount allowable for any applicant shall be further reduced by any personal loan principal balance outstanding.
Loan Term: The loan term is five (5) years at an 8% interest rate.
Given the recent approval, we are actively working on the relevant processes and procedures. Applications are not being accepted presently.
We encourage all active members to verify and/or update your email, phone number, and mailing address in the Member Self-Service portal.
We remain committed to serving our community and look forward to the successful, limited restart of the Personal Loans Program. We encourage you to follow us on social media for the latest updates on the Limited Personal Loans Program and other GERS news.
Facebook: https://www.facebook.com/gersvi1959
Twitter: https://www.twitter.com/gersvi1959
LinkedIn: www.linkedin.com/in/gersvi1959
YouTube: https://www.youtube.com/@governmentofthevirginislan1118
We thank you for your continued trust and support.
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Do you have questions about your membership, service credit, retirement eligibility, online self-service registration, or GERS Educational Webinars? Get in touch with Customer Service today.
Call us directly at 340-693-3939 or send an email to customercare@usvigers.com. Kindly allow up to 24 hours for a response to emails sent outside of our regular office hours.
The Customer Service Team provides real-time communication via telephone, email, and in person. Overall, the team goal is to provide you with accurate, courteous, accessible, and responsive service.
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Are you an active member or retiree of the GERS System without a Member Self-Service (MSS) Account? What are you waiting for? MSS was created just for you! | |
If you've forgotten your password, please contact Customer Service by telephone at (340) 693-3939 or via email at customercare@usvigers.com.
To sign up, please refer to the following instructions.
| Click on Member. Go to www.usvigers.com | Enter your Social Security Number, Last Name, and Date of Birth. Then, click on Validate. | |
You will have access to GERS publications, forms, and other relevant information via MSS. With just a few clicks, you can:
- View and Update Personal Information
- View Your Account Contributions
- View your Employment History
- View Your Pension History
- View Loan Information
- View your Annual Benefit Statement
- Review and update your beneficiary
- Download forms and applications and much more.
Your Member Self-Service password is case-sensitive, so be sure to create a username and password that you will remember. If you have any issues accessing your MSS account, contact Customer Service!
New and exciting things are coming to the GERS website very soon.
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DO YOU KNOW WHO YOUR BENEFICIARIES ARE? | Death happens and we encourage you to always be prepared. We encourage active members and retirees to update their beneficiary information before it's too late. |
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Annual statements will be distributed to active members on or before March 31, 2024. The annual statement provides your estimated contributions based on your years of service and your actual contributions to GERS. Your annual statement is also available in the Member Self-Service Portal at www.usvigers.com.
Pursuant to Act No. 8785 Section 1. Title 3 Virgin Islands Code, chapter 27, section 719, subsection (b). "The System shall send, each active member and an annual statement of the benefits or contributions paid by the employer and the employee not later than February 1 of every year. The member has the option to select to receive the annual statement by United States Postal Service mail or by electronic means." Confirm your annual statement delivery preference using the link below.
To avoid any delays, please ensure that your email and mailing address on file are correct in the Member Self-Service portal.
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When a member elects to retire, he or she may choose from the following:
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Settlement Option 1 - The member has the right to have a retirement allowance paid to him or her until death, and if he or she dies before receiving the amount of the accumulated contributions at retirement, the balance at death can be paid to the beneficiary or estate.
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Settlement Option 2 - The member has the right to have a retirement allowance paid to him or her until death and thereafter to the beneficiary for life.
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Settlement Option 3 - The member has the right to have a retirement allowance paid to him or her until death and thereafter have one-half of his or her retirement allowance paid to the beneficiary for life.
Note: If a member selects option 2 or 3:
- The amount of the member's annuity is reduced;
- The option is irrevocable; and
- The full annuity is not restored upon the death of the beneficiary.
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For the first time, the GERS hosted a Retiree Holiday Social in both districts, St. Croix on December 12, 2023, and December 14, 2023, in St. Thomas. Retirees showed up for the monumental event, boasting 200+ attendees in St. Croix and 300+ in St. Thomas. Retirees expressed immense gratitude for the grandeur of thoughtfulness by the management and staff of the GERS. Retirees reconnected with past colleagues and friends and embraced the ambiance. Many danced to the electric slide and other cultural songs, performed by Stanley and the 10 Sleepless Knights in St. Croix, and Quelbe Resurrection, in St. Thomas. We would also like to commend the Rising Stars Steel Orchestra for their performance for the Social in St. Thomas. The GERS is committed to presenting similar events for active members and retirees. An events calendar will be forthcoming. | |
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As required by law, the GERS has distributed the1099-R's to all retirees. Your 1099-R has been mailed to the address on file.
If you didn't receive your 1099-R by February 15, 2024, please log on to Member Self-Service to retrieve using the following instructions.
You may contact Customer Service at (340) 693-3939 or send an email to customercare@usvigers.com.
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Please login to the Member Self-Service portal | |
Click on Review Your Document History. | |
Direct Deposit
It is GERS' policy that all retirees enroll in our Direct Deposit Program. It is safe, secure, seamless, and convenient. Electing to have your annuity payments deposited into your checking, savings, or credit union account will ensure payments are credited to your account as of the payroll date.
Please note that once you become a retiree, direct deposit is not automatic. A new Direct Deposit Enrollment Form or your financial institution direct deposit form must be completed and submitted to Customer Service. Existing retirees can come into our office to complete the Direct Deposit Enrollment Form. Once your form has been submitted, it takes one (1) pay cycle before monies are electronically credited to your account.
To update your direct deposit information on file, you will need to complete and submit a new Direct Deposit Enrollment Form to our Customer Service team. This process also covers adding multiple bank accounts to split your direct deposit. Please note that there is a $50 fee associated with updating your direct deposit information.
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Health Insurance Enrollment Process for Retirees Turning the Age of 65 | |
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All Government of the U.S. Virgin Islands retirees turning or are over the age of 65 must have Medicare Part B to maintain coverage with the Government’s Health Insurance benefit.
You must contact the Social Security Administration Office in the Nisky Shopping Center on St. Thomas or 4094 Diamond Ruby, Suite 4, Christiansted (across from VI WAPA) on St. Croix to apply for Medicare Part B. You can also contact them by phone at 1-866-876-1799 or 1-866-876-1925. If you have a dependent covered on your health insurance plan turning or is over the age of 65, they must follow the same procedure.
Once you have received the Medicare Card for Part B, please go to the Group Health Insurance Office located on the third floor of the GERS Building on St. Thomas and 3009 Orange Grove Shopping Center on St. Croix to fill out the United Healthcare enrollment form.
All Retirees over the age of 65 will be transferred to United Healthcare for their Medical and Prescription benefits. You will continue with Cigna for your Dental benefits.
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Cigna Dental WellnessPlus© | |
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“The key to a healthy smile is taking care of your teeth and gums. Before problems start. With your Cigna Dental coverage, most preventative care is available at low or no cost. And, with Cigna Dental WellnessPlus©, your annual dollar maximum could increase each year.”
Preventative dental care can help you catch minor health issues before they become major and costly for the member to treat. Preventative dental care includes cleanings, oral exams, and x-rays.
How Cigna Dental WellnessPlus© Works –
- When you get preventative care, your annual dollar maximum increases the next plan year.
- Your annual dollar maximum will grow each year up to the level listed in your plan documents as long as you stay enrolled in the plan and continue getting preventative care
- Members of the same family who get preventative care also see an increase in their annual dollar maximum in the next year(s)
- If you do not get preventative care, your annual dollar maximum stays the same as well, as for family members
Your Preventative Care Changes Your Coverage Level –
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Base Level – You get preventative care each year, and your annual dollar maximum increases the following year.
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Level 2 – You never get preventative care, and your annual dollar maximum stays the same
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Level 3 – You get preventative care in year 1. Your annual dollar maximum increases in year 2. However, you do not get preventative care in year 2. In year 3, your annual dollar maximum stays at the year level nor does it increase further.
Regardless of age, all retirees are covered by Cigna for their dental benefits. For more information about your dental plan, visit Cigna.com or call 1-800-433-1230.
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Additional Life Insurance for Retirees | |
The Division of Personnel Group Health Insurance unit wants to remind our retirees who have elected additional life insurance that the life insurance is age-banded. The life insurance premium is also based on the supplemental life insurance coverage the retiree elects. Please note that retirees are locked in with their four-year insurance premiums. Once the member ages out of the age band, their rates automatically increase. Should the retiree want to make changes, they can do so during our annual open enrollment period. Open enrollment is always held from mid-August to mid-September of each year. | |
Cigna MotivateMe Incentive Reward Program for Retirees under 65 | |
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The Cigna MotivateMe Program now rewards Cigna-covered Retirees under the age of 65 and their covered spouses for the healthy actions they take. The purpose of this program is to encourage members to actively engage in health and wellness through primary care provider services, preventative care, and wellness activities. The program period runs from October 1, 2023, through September 30, 2024.
The maximum Incentive is $150 and $50 for covered spouses. Covered dependents are not eligible.
Goals Available to Earn Dollars –
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Biometric Screening - Eligible members will not be able to redeem any rewards until the Biometrics goal is complete.
- Complete Your Health Risk Assessment
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Preventative Screenings – There is a $75 cap in this category
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Preventative Dental Exams – Must complete 2 exams for the program period
- Cigna Onsite and/or Telephonic Chronic Coaching
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OMADA – Must complete all 16 lessons – omadahealth.com/gvi
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Self-Reporting Goals – There is a frequency of 4 each except for vaccine self-report goals
Members can track and manage their rewards through www.mycigna.com. Available to you is a list of available healthy goals and actions, how to get started, and instructions on how to earn and redeem your rewards.
You can also view your incentives by downloading the myCigna Mobile App.
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We encourage departments to contact us to participate in outreach activities. | |
GERS Bottom Line as of
December 15th Payroll
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The GERS funded status, is the level of accumulated assets that have been set aside for the payment of retirement benefits to employees. The GERS funded status is at 10.11%.
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| Total Actives | 9,044 | | Total Retirees | 8,777 | | Retiree Payroll | $11,194,350.73 | | FY Total Number of Refunds | 136 | | Total Refunds paid | $1,379,367.80 | | Total Death Benefits | 7 | | Death Benefits Paid | $405,623.53 | | Total Return for Quarter ending | 3.9% as of December 31, 2023 | | |
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Portfolio Assets include loans, stocks, bonds, buildings and property, and alternatives investments.
Note: Return numbers exclude the GERS office buildings. They are however included in the total portfolio assets. All figures are estimates.
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Deck the Halls at Havensight Mall | Gifts, treats, and Holiday cheer filled the Havensight Mall on December 18, 2023. The Honorable Governor Albert Bryan, Jr. and his elves gifted children, ages birth to 12. Children rode away on bikes to the riddim of the Holiday music. Administrator/CEO, Angel Dawson and Board of Trustees Chairman, Dwane Callwood greeted patrons and spread Holiday cheer to everyone they encountered. The Havensight Mall stores remained open late, and many vendors were offering local treats, arts and crafts, food and drinks, apparel, and electronics. The crowd was entertained by the sounds of Spectrum Band, Klimaxx Band, DJ Champion, and the Rising Stars and JR AllStars Steel Orchestras. A delightful display of performances captured the crowd by Rock City Entertainment, St. Thomas Majorette, Showstoppers, and Elite Dancers. The GERS and Havensight Mall would like to also extend special thanks to EDM. | |
Havensight Mall Hotel Groundbreaking | |
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The new hotel will boast a 5-story, 126-room hotel. The 71,040-sf hotel will be branded as Hampton Inn & Suites, which is an international upper midscale limited-service brand, and the hotel is expected to serve both business and leisure travelers. The hotel will have food and beverage services, flexible meeting spaces, a fitness center, a convenience shop, a business center, and an outdoor pool.
The Hampton by Hilton St. Thomas is also expected to be a boom to businesses in Havensight, including food operations, as the hotel will only serve breakfast and rely on partnerships with restaurants for other meals that can be delivered. Guests will be able to utilize in-room tablets to order cuisine or merchandise for delivery or pick-up. They can also pre-order to dine at local restaurants.
The project is being helmed by Haven Developments, which partnered with Hilton. Vice President of Development for the Caribbean and Latin America for Hilton Hotels and Resorts, Pablo Maturana, celebrated the groundbreaking, highlighting that the St. Thomas hotel is among over a hundred currently under development. “Today we celebrate the return of the Hilton brand to the territory,” said Maturana. “We currently have 210 hotels open in the region in 28 countries and territories, along with 110 properties in the pipeline. We thank the entire community of St. Thomas for welcoming us.”
With the property on which the new hotel is being constructed being owned by GERS, the pension system's CEO, Mr. Dawson, said GERS would continue to seek partnerships that bolster its financial standing.
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"Contributing Today For A Better Tomorrow."
GERS
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Send an email to communications@usvigers.com and type SIGN ME UP in the subject line. Please include your name in the email. | |
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Customer Service
Phone: 340-693-3939
Email: customercare@usvigers.com
St. Thomas
3438 Kronprindsens Gade, Ste. 1
St. Thomas, VI 00802-5750
Phone: (340) 776-7703
Fax: (340) 776-4499
St. Croix
3004 Estate Orange Grove, Ste. 1
Christiansted, St. Croix
VI 00820-4260
Phone: (340) 718-5480
Fax: (340) 718-5498
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