Contributing today for a better tomorrow. | |
Relevant news, updates, and resources for your retirement planning! | |
Message from the Administrator/CEO | |
|
Dear Esteemed Readers,
We are excited to announce that the restart of our Limited Personal Loans Program was very successful! This initiative is designed to provide our members with the financial support they need, whether it’s for personal projects, emergency expenses, or other goals. We are committed to making this process as seamless and beneficial as possible for our members. To date, GERS has provided over $12.2 million in personal loans to 1,252 active members.
In addition, the GERS is pleased to announce its new Director of Retail, Dining, and Entertainment and Property Manager of Havensight Mall, Mr. Jahmed Mills. Mr. Mills brings a wealth of experience in hospitality and management, having previously served as General Manager for renowned resorts in the Bahamas and St. Thomas. His expertise and vision will be instrumental as we broaden Havensight Mall’s business model to include more dining and entertainment options, enhancing its appeal and value.
The ongoing construction of a new Hampton by Hilton Hotel at the 14-acre Havensight property remains on schedule. This development, in partnership with Haven Development, marks a significant milestone in our efforts to transform Havensight Mall into a thriving, experience-driven destination. The new hotel will not only enhance our property’s offerings but also attract more visitors, boosting the local economy and creating new opportunities for our members and the community.
Also, the GERS' participation in the Seatrade Cruise Global Conference (due to its investment in the cruise ship dependent Havensight Mall) underscores our commitment to staying at the forefront of industry trends and developments. Engaging with global leaders in the cruise and maritime industries allows us to bring innovative ideas and best practices back to the Havensight Mall, ensuring that we continue to maximize the value of this important investment to our members and the people of the Virgin Islands.
The above initiatives reflect our ongoing dedication to excellence. We are excited about the future and the opportunities that these developments will bring.
I also extend hearty congratulations to our Employees of the Year, Lynesha Joseph-Harrison, Customer Service Representative on St. Thomas, and Franz Christian, Loan Technician on St. Croix. Their dedication and outstanding service to our members exemplify the high standards of our organization. We are incredibly proud of their achievements and grateful for their unwavering commitment.
Finally, let's all mark our calendars because we're just a little over three months away from celebrating our monumental 65th anniversary! The countdown starts now — don't miss out on the excitement! Stay tuned for more updates.
Until we meet again, thank you for your continued support.
Best Regards,
|  |
|
|
The Limited Personal Loans Program was successfully launched on April 9, 2024, and appointments were scheduled beginning on April 29, 2024.
As of June 30, 2024, we have serviced 1,252 active members, 597 on St. Thomas, and 655 on St. Croix, totaling $12.2 million.
The second installment of the Limited Personal Loans Program began on July 8, 2024. Active members are encouraged to complete a Loan Interest Form online at www.usvigers.com. The Form will be available until the allotted funds are exhausted or by August 2, 2024, whichever comes first.
For your loan appointment, bring your most two recent check stubs and a valid unexpired government-issued ID.
Key features of the Limited Personal Loans 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: Active members 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 up to five (5) years at an 8% interest rate. The payoff date must occur before the active member reaches age 70.
For more information and updates on the Limited Personal Loans Program, please call our Customer Service office at (340) 693-3939 or visit the GERS' website at www.usvigers.com.
Follow us on social media for the latest updates.
Facebook: https://www.facebook.com/gersvi1959
Twitter: https://www.twitter.com/gersvi1959
LinkedIn: www.linkedin.com/in/gersvi1959
YouTube: https://www.youtube.com/@governmentofthevirginislan1118
|
|
GERS Professional Development | |
|
On March 8, 2024, our dedicated staff from both St. Thomas and St. Croix came together for a comprehensive staff meeting that combined team-building exercises and critical department updates. This meeting served as a valuable opportunity for collaboration, ensuring that all team members are aligned and moving forward with a shared vision. GERS leadership and staff were applauded for their contributions and commitment to excellence.
Following the team-building session, each department provided updates on their recent achievements, ongoing projects, and future plans. This transparency allowed everyone to gain a holistic view of our organization’s progress and challenges, fostering a culture of mutual support and collective problem-solving.
Administrator Dawson emphasized the significance of these quarterly meetings, noting that they are crucial for professional development and organizational cohesion. In his address, Mr. Dawson emphasized that regular staff meetings are essential for our growth and success. They provide a platform for us to come together, share our progress, and align our focus. Dawson said, "I am proud of the commitment and dedication shown by everyone today, and I look forward to seeing the positive impact of our collaborative efforts."
Team GERS was encouraged to maintain the momentum and continue to strive for excellence.
| |
|
In celebration of the GERS Customer Service Unit, the GERS celebrated Customer Service Week, April 2-5, 2024. Active members and retirees stopped by our offices on St. Thomas and St. Croix to update their information, meet and greet the staff, enjoy local treats, and take photos using our customized social media frames.
Numerous retirees had a pleasant experience engaging with the GERS staff, with some expressing their anticipation for the Retiree Social scheduled for December.
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. We are here to serve you.
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's goal is to provide you with accurate, courteous, accessible, and responsive service.
| |
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.
|
|
A tier is a level of benefits provided to a member based on date of employment.
-
Tier I employees are members hired prior to October 1, 2005.
-
Tier II employees are members hired on or after October 1, 2005.
|
| |
|
In accordance with Bill 035-0048, the GERS is authorized to distribute annual statements to active members electronically. Annual statements will be sent from the email address v3mtp@usvigers.com. Please note that all communication sent from this email address is legitimate and not considered spam.
To opt-out or receive by mail, contact our Customer Service office at (340) 693-3939 or via email at customercare@usvigers.com. Active members are encouraged to update their personal information, including their primary email, to ensure accurate delivery of their annual statement.
| |
|
When a member elects to retire, he or she may choose from the following:
-
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.
-
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.
-
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.
| |
|
Administrator Dawson delivered an insightful presentation to the Government Retirees United for Fairness (GRUFF) on March 11, 2024, regarding the current status of the GERS. During the presentation, he shared some encouraging news about our progress. However, he emphasized the importance of continuing to make cautious and prudent decisions, acknowledging that we are not yet out of the woods.
The retirees were highly engaged, asking many questions and expressing their optimism about the GERS. They also conveyed their willingness to assist in any way they can to support the system's ongoing improvement.
As part of the event, Administrator Dawson presented Ms. Helen Hart, President of GRUFF, with an award in honor of GRUFF's 10th Anniversary.
Stay tuned for more updates as we navigate our path forward with careful optimism and strategic planning.
| |
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.
|  | | | |
Division of Personnel Updates | |
Reentry Retirees Program: Addressing Workforce Shortfalls & Leveraging Expertise | |
|
The Reentry Retirees Program was developed to address the workforce shortfalls in the Government of the Virgin Islands. It aims to bring back into service the professional skills of retired employees, ensuring the government benefits from their expertise. This also allows former employees to receive their annuities from the Government Employee Retirement System (GERS) while fulfilling their employment responsibilities. Retirees may return for up to 36 months with a waiting period of 9 months or for up to 24 months with no waiting period if he/she is a nurse, police officer, or teacher. However, retirees must apply and qualify for hard-to-fill, continuous recruitment positions specified in the program's eligibility criteria.
This program is governed by ACT No. 8560, as amended by ACT No. 8690; Title 3 V.I.C. Chapter 27, Section 706; Chapter 28A, Section 755; and Chapter 25, Section 492a, which establishes guidelines for retirees seeking to reenter government service while maintaining their annuity. The Division of Personnel creates these regulations to ensure a consistent hiring process within all government agencies. These rules supersede any prior regulations and apply to all government sectors.
For more information, please visit the Division of Personnel’s website at https://www.dopusvi.org/new-recruitment-programs/ or call our Recruitment and Classification Specialist at (340) 774-8588 in St. Thomas/St. John or (340) 718-8588 in St. Croix.
| |
UnitedHealthcare Medicare Advantage Benefit Change | |
Effective June 1, 2024, laboratory services will no longer apply to the annual deductible. This means that UnitedHealthcare will pay our share of the costs for this service, even if the member hasn’t paid their deductible yet. This benefit change will apply to applicable claims with dates of service of June 1, 2024 – December 31, 2024. UnitedHealthcare cannot retroactively reprocess any claims incurred before June 1, 2024. All lab services provided for dates of service through May 31, 2024, are still subject to the deductible. There will be no impact on the current premium. | 2024 Annual Virtual Health & Wellness Expo and Produce Distribution | |
|
The Annual Virtual Health and Wellness Expo takes place on July 18, 2024, from 10:00 a.m. – 4:00 p.m.
Expo Produce Distribution dates are as follows:
- St. Croix – Monday, September 16, 2024
- St. John – Thursday, September 19, 2024
- St. Thomas – Friday, September 20, 2024
Only Cigna active employees and Cigna retirees under the age of 65 and their dependents who registered and actively participated in this year’s (2024) expo will receive a produce bag. Please provide a valid ID at the time of pickup. UnitedHealthcare members will be informed about their produce distribution at a later date.
| |
Comprehensive Benefits Presentation | |
Retirees, please join us for a Comprehensive Benefits Presentation during our Annual Open Enrollment.
Dates: Monday, August 12, 2023, through Friday, September 13, 2024
Cigna and Standard will present medical, dental, life insurance, and vision benefits. We encourage all retirees, including members under the age of 65 and members over 65, to attend these informative sessions.
Please note that UnitedHealthcare will host its open enrollment at a later date, presenting its Medicare Group Advantage program, including the prescription drug program. Once the dates are determined, you will be notified via press release, social media, retirement groups, and UHC communications. Don’t miss out on these essential updates!
| |
2023-2024 MotivateMe Incentive Rewards Program | |
Cigna retirees under the age of 65 and their covered spouses are now eligible to receive MotivateMe Incentive rewards for their healthy actions. “The more you do, the more you earn.” To redeem your debit and/or gift card, visit www.mycigna.com, and click the “Redeem Awards” link. Please note that you must complete your Biometric Screening/Preventative Labs before you can redeem your incentive rewards. | |
|
The GERS proudly participated in the Agrifest Agriculture Fair on St. Croix in February. We provided valuable information about our services to our members and the public. Visitors also enjoyed a variety of trinkets, freshly popped popcorn, and the Flu and Cold Honey remedy provided by the VI Honeyman. Additionally, members were educated on how to navigate the Member Self-Service portal. It was a wonderful opportunity to engage with the community, share useful resources, and enhance members' understanding of our online services.
Community outreach is very important to us as our main focus is to keep our members informed and provide prompt service onsite.
| |
We encourage departments to contact us to participate in outreach activities. | |
|
GERS' Bottom Line as of
June 30th Payroll
| |
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%. | |
| Total Actives | 9,036 | | Total Retirees | 8,787 | | Retiree Payroll | $11,268,542.69 | | FY Total Number of Refunds | 538 | | Total Refunds Paid | $6,265,985.16 | | Total Death Benefits | 38 | | Death Benefits Paid | $1,923,119.77 | | Fiscal Year to Date Total Return Ending | 11.4% as of April 30, 2024 | | |
|
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.
| |
Havensight Mall's New Director of Retail, Dining, & Entertainment | |
 | |
Government Employees’ Retirement System (“GERS”) Administrator and Chief Executive Officer, Angel E. Dawson, Jr., is pleased to announce the appointment of Mr. Jahmed Mills as Director of Retail, Dining and Entertainment and Property Manager of Havensight Mall. Acquired by GERS from the West Indian Company, Ltd. (“WICO”) in 1993, at the same time that WICO was acquired by the Virgin Islands Public Finance Authority, the landmark Havensight Mall property remained under the management of WICO until April 2020 when GERS assumed direct management. Mr. Mills will be the first full-time, permanent manager of Havensight Mall since that time.
According to Administrator Dawson, “Mr. Mills’ appointment is very timely, as GERS is in the process of broadening Havensight Mall’s business model and appeal beyond retail, with an increased emphasis on dining and entertainment. Together with our Haven Development partner, which is constructing a new Hampton by Hilton Hotel at the 14-acre Havensight property, and our professional consultants who spent decades working with the Walt Disney Corporation, Mr. Mills will take the lead in transforming this valuable, historical investment by the GERS into a thriving experience-driven destination that will delight our local population and visitors alike for decades to come.
Mr. Jahmed Mills is an experienced hospitality professional who advanced through the ranks of the Marriott Corporation. His career highlights include serving as General Manager of the French Leave Resort in Eleuthera, Bahamas, and General Manager of Point Pleasant Resort on St. Thomas. Mr. Mills is well-educated and experienced. After earning his Bachelor’s Degree in Accounting and Financial Management and Master’s Degree in Business Administration from the University of the Virgin Islands, he served as a Senior Portfolio Manager at Driehaus Capital Management and Credit Manager at Frenchman’s Reef & Morning Star Beach Resort on St. Thomas. Mr. Mills also has substantial experience in the food and beverage industry and is presently owner and CEO of Mills Enterprise, LLC., which operates on St. Thomas.
Administrator Dawson continued his announcement by thanking all who helped to bring Havensight Mall to this point. In particular, Mr. Roy Moorehead who has been Acting Property Manager since January and has now been tapped as Assistant Director of Retail, Dining, and Entertainment, in addition to his primary role as Havensight’s Chief Security Officer.
“We have witnessed the transformation of what were once warehouses into the current offerings of the Havensight Mall. As proud owner of this property, we are also custodians of its rich history and architects of its even brighter future. Effective June 3, 2024, we welcome Mr. Jahmed Mills to its helm and pledge to maximize Havensight’s value to our active members and retirees”, Administrator Dawson concluded.
| |
Havensight Mall Hotel Update | |
|
The GERS is pleased to provide you with an update on our partnership with Haven Development, LLC, who is spearheading the development of the inaugural Hampton by Hilton-branded Hotel at Havensight, St. Thomas. The project has achieved a significant milestone with the completion of the 3rd-floor structure, with construction now advancing to the 4th floor. Construction management and crews are working diligently, underscoring Haven Development's steadfast dedication to delivering a distinctive hotel experience for our community.
Currently, at 50% completion, the project remains on schedule for its grand opening by the end of the first quarter of 2025. This five-story, 126-room hotel will boast amenities such as a pool, expansive deck, greenspace, and a brand-new welcome center designed to enrich the local landscape and attract visitors.
The development of this landmark hotel represents a significant enhancement to the local landscape, elevating Havensight's appeal as a premier destination. We are excited to have facilitated a long-term land lease agreement for this development. Your continued support and enthusiasm have been instrumental in driving this initiative forward, and we look forward to sharing further updates as we progress toward welcoming Hampton by Hilton to Havensight, St. Thomas.
| |
Havensight at Seatrade Cruise Global | |
|
The 2024 Seatrade Cruise Global Conference was held in Miami Beach, Florida, in April. The conference brought together industry leaders, professionals, and stakeholders from around the world to discuss and showcase the latest trends, innovations, and developments in the cruise industry. With a focus on sustainability, technology, and visitor experience, the event featured panel discussions, keynote presentations, and networking opportunities. Attendees had the chance to explore exhibitions highlighting cutting-edge products and services designed to enhance their experience while indulging in local delicacies and engaging in cultural activities. Key themes included the role of digitalization in improving operations, strategies for reducing carbon footprint, and the future of cruise tourism post-pandemic. Overall, the Seatrade Cruise Global Conference provided a platform for collaboration, knowledge sharing, and forward-thinking discussions aimed at shaping the future of the cruise and travel industry.
Thus, the Havensight Mall was represented in the Exhibit Hall, part of the U.S. Virgin Islands Ports experience. The Havensight team accompanied members of the U.S.V.I. Department of Tourism and Port Authority.
The team connected with many people from other Caribbean islands and countries around the globe, sparking great enthusiasm, while sharing promotional items. Let’s just say that the Havensight Mall will be represented in many homes and offices around the world.
| |
Send an email to communications@usvigers.com and type SIGN ME UP in the subject line. Please include your name in the email. | |
|
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
| | | | |
