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GERS administrator reports portfolio, projects and a VIPD rent arrear; counsel says deposit clause was considered but not included
Summary
At the Sept. 25 meeting the GERS administrator reported intake and payroll figures, property projects and a rent arrear from VIPD; board counsel said a contractual deposit clause was considered for the VIPD lease but was not included because its enforceability could require legislative action.
At its Sept. 25 meeting the Government Employees Retirement System administrator reported on retirement application intake, payroll additions, loan portfolio balances and ongoing facilities work across GERS properties.
The administrator said the system received 191 retirement applications for 2025; 63 had been processed and 128 remained pending. The semi-monthly retiree payroll was described as approximately $11.4 million. The loan portfolio was reported as 2,623 loans totaling $22,844,443; the administrator said “all loans are performing well.”
Operations updates included planned and ongoing capital work: an RFP was issued for restroom and lobby rehabilitation and ADA compliance at the GERS main complex in St. Thomas with project initiation expected around Nov. 3; an RFP for development of green space near the visitor center was issued Aug. 18 with work expected to begin Oct. 3; repairs to a Building 3 catwalk and roof at the Haven site were described as progressing; and a contractor had been selected for painting of the shop buildings at the Avon site. The administrator also reported a newly commissioned generator at the Avon site that functioned during recent outages.
During the report a trustee asked about a rent arrear recorded for VIPD of $3,460.58 and whether the board had required a deposit clause in the new VIPD lease to cover late government payments. Attorney Myers responded: “It was considered. However, that particular solve was not placed in this contract.” Myers added that inclusion and enforcement of such a provision could implicate the legislature and appropriation authority, saying a court could later be asked to rule on the provision’s validity if challenged.
Board counsel (Council Williams) said he had not been involved in earlier lease discussions and could not confirm whether the provision had been proposed or objected to in prior negotiations. The administrator noted utilities cannot be prepaid in the same way as fixed rent because monthly utility charges vary.
No formal action on the VIPD arrear or lease language was recorded in open session; trustees discussed pursuing clarification in executive session and requested further information on personnel and budget-line items tied to the FY2026 budget documents.
