The Government Employees Retirement System announced Monday that it has processed and issued 6,851 checks of $103.08 each for eligible retirees, the so-called V.I. Lottery bonus.
Retirees age 60 and older who have been on the retirement payroll for one year, along with all disability annuitants who have been on the payroll for one year, can expect to receive their bonus payment through the customary method in which they receive their annuity payments from GERS, either by mail or direct deposit.
The V.I. Legislature enacted the program in 2008, creating the cash Christmas gifts for retirees. The law’s title says it serves to "allow for a cost of living increase in the annuitants’ pensions," and cites inflation in its internal explanation, although the annual checks are not connected to the cost of living and do not represent a pension increase.
