Gov. Albert Bryan Jr. Saves Virgin Islands Retirement System from Collapse
In historic news, Virgin Islands Gov. Albert Bryan Jr. announced he’s completed his plan to save the Virgin Islands’ pension system from collapse and ensure its long-term stability.
Gov. Bryan announced the news on a visit to Washington D.C., where he also met with officials to discuss issues impacting the Territory.
For close to 30 years, the Virgin Island’s Government Employees’ Retirement System (GERS) has been on the brink of collapse, with no viable solutions proposed to fix the system. In 2020, Gov. Bryan laid out a landmark plan to save the system. Now, after closing on a bond sale, the governor has completed his plan and secured the long-term solvency of GERS.
“Gov. Bryan took action to find a comprehensive solution to a problem that had been deemed unsolvable for decades,” said DGA Senior Communications Advisor Christina Amestoy. “This extraordinary accomplishment will impact the lives of Virgin Islanders for generations to come.”