Retirement Option for Government of Guam Employees

(a)A member of the Government of Guam Retirement Fund who is eligible for retirement may retire upon the complete remittance of his outstanding individual contributions to the Fund, including the employee and employer retirement contributions. Any and all fees, interest at actuarial rates, and penalties required by the Government of Guam Retirement Fund shall be paid by the Government.

(b)This Section shall not restrict the continuing remittance of existing Retirement Fund contributions as required by law or by the Government of Guam Retirement Fund. By the fifteenth

(15th)day of each month, the Director of the Government of Guam Retirement Fund shall provide a detailed report to the Speaker of I Liheslaturan Guåhan regarding said remittances and the number of retirements pursuant to this Section during the previous month. Nothing herein shall be construed to abrogate any provision of § 8137(h) of Chapter 8, Title 4 GCA.