4 GCA § 8138
Board of Trustees
View official PDF ↗(a)The general administration and the responsibility for the proper operation of the Fund, and for making effective the provisions of this Article, shall be vested in a Board of Trustees.
(b)Upon the election and appointment of additional trustees, the Board of Trustees shall consist of seven
(7)members as follows:
(1)Elected Retirees: Two
(2)retirees who are domiciled in Guam and are currently in receipt of a retirement annuity from either the Defined Benefit Plan or the Defined Contribution Retirement System, to be elected only by retirees of the Defined Benefit Plan or the Defined Contribution Retirement System. Retirees who are employed by, or under contract with, the government of Guam shall, regardless of their employment status, remain eligible to vote for Elected Retirees and/or to serve as Elected Retirees on the Board of Trustees. CH. 8 RETIREMENT OF PUBLIC EMPLOYEES
(2)Elected Active Members: Two
(2)members of either the Defined Benefit Plan or the Defined Contribution Retirement System
(A)who are employed and have been employed for at least five
(5)years by the government of Guam; and
(B)who are contributing to either the Defined Benefit Plan in accordance with § 8136 of this Article or to the Defined Contribution Retirement System in accordance with § 8208 of this Chapter, to be elected by members of the Defined Benefit Plan and participants in the Defined Contribution Retirement System.
(3)Appointed Residents: Three
(3)persons who are domiciled in Guam, two
(2)of whom are not employed by the government of Guam, and one
(1)of whom shall be a government employee in the classified service, all with demonstrated financial ability and broad business management or investment experience, ideally in investment or management of pension funds, to be appointed by I Maga’hågan/Maga’låhen Guåhan with the advice and consent of I Liheslaturan Guåhan.
(4)Elected Officials and Retirement Fund Employees Disqualified. Any person holding an elected office and any employee of the Retirement Fund shall be disqualified from serving on the Board of Trustees.
§ The story of this section
- Amended by P.L. 14-154 § 10 (bill & sponsor pending — earlier Legislature not yet ingested)
- Amended by P.L. 26-131 § 2 — introduced as Bill 207-26 · introduced by Vicente C. Pangelinan
- Amended by P.L. 27-5 § IV — introduced as Bill 42-27 · introduced by Frank B. Aguon, Jr
- Amended by P.L. 27-43 § 2 — introduced as Bill 153-27 · introduced by Antoinette D. Sanford
- Amended by P.L. 27-104 § 4 — introduced as Bill 280-27
Interpreted by the courts:
- 2015 Guam 23 — Odilia Bautista, Plaintiff-Appellee, and Joseph A. Guthrie, on behalf of themselves and all those similarly situated, Pl (2015) · per Robert J. Torres, J. · pinpoints (a) at ¶41
Reconstructed from the Guam Code Annotated. For the authoritative version, see the official PDF.