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Committee holds bill to require Public Finance Authority subsidiaries to join GERS after testimony
Summary
Lawmakers held a bill that would require officials and employees of the Public Finance Authority’s subsidiaries to be members of GERS after testimony from PFA, VINGN and WICO about financial and operational impacts; sponsor signaled an amendment to narrow the change to future hires and opt‑in for current employees.
The Committee on Government Operations, Veterans Affairs and Consumer Protection held at the call of the chair a bill (36‑0066) that would require officials and employees of the Virgin Islands Public Finance Authority (PFA) and its wholly owned subsidiaries to be members of the Government Employees Retirement System (GERS).
Senator Alma Francis Heiliger introduced the bill, which would add section 928A to Title 29, Chapter 15 of the Virgin Islands Code. Administrator Angel E. Dawson and GERS representatives testified in support of the bill’s spirit; Dawson noted court rulings classifying certain PFA subsidiaries as public corporations and the system’s interest in extending membership and contributions to employees of subsidiaries. Dawson and the GERS board asked that contribution timing match existing pay‑period rules and…
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