Participation in Government of Guam Defined Contribution Retirement System; Limiting

Participation in Existing Retirement System.

(a)Beginning October 1, 1995, the Government of Guam Defined Contribution System shall be the single retirement program for all new employees whose employment commences on or after that date. No additional new employees may be admitted to the existing retirement system, except as provided from time to time in the existing retirement system. Members of the existing retirement system whose employment continues beyond September 30, 1995, shall continue to contribute and participate in the existing retirement system without change in provisions or benefits, except as provided from time to time in the existing retirement system.

(b)Any employee who leaves government service after September 30, 1995 who is later reemployed by the Government of Guam shall become a member of the Defined Contribution Retirement System, except persons who are ineligible for membership under § 8206.l; provided, that he or she shall be entitled to readmission to the existing retirement system in which he or she was originally a member if such employee has not withdrawn his or her contributions from the existing retirement system. However, if such employee has withdrawn his or her contributions from the existing retirement system, the readmission to the existing retirement system shall not be permitted and the employee will be entitled only to membership in the Government of Guam Defined Contribution System in accordance with this Article.

(c)Any employee who retires after September 30, 1995, and who later becomes re-employed by the Government of Guam shall be entitled to re-admission to the existing retirement system and subject to suspension of annuity requirements pursuant to Title 4 GCA § 8121, as amended. If such re-employed retiree is prohibited from re-admission to the existing retirement system and becomes a member of the Defined Contribution Retirement System, his annuity under the existing plan shall be suspended in the same manner and to the same extent applicable to similarly situated employees pursuant to Title 4 GCA § 8121, as amended, provided that no employee of I Liheslaturan Guåhan who has previously retired may become a member of the Defined Contribution Retirement System.

(d)An employee whose employment commences after October 1, 2005 and whose employment is purely temporary, seasonal, intermittent or part-time shall be a member of the Defined Contribution Retirement System unless the employee is eligible for re-admission to the existing retirement system.