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Bill

36-0103

An act amending title 33 Virgin Islands Code, subtitle 3, chapter 111, section 3080 by reducing the percentages used to calculate post-service retirement annuities for the Governor and Lieutenant Governor and by establishing a minimum retirement age

2025-2026 Regular Session

Bill reduces Governor and Lieutenant Governor retirement annuity percentages and establishes minimum retirement age to lower long-term executive pension costs.

Introduced
0
WeVote Research Nonpartisan
Bill Summary · 36-0103

Legislative bill overview

Bill 36-0103 modifies the retirement benefits calculation for Virgin Islands' Governor and Lieutenant Governor by reducing the percentages used to compute their post-service annuities and imposing a minimum retirement age requirement. This amendment targets the compensation structure for these two executive positions under Title 33 of the Virgin Islands Code.

Why is this important

Executive retirement benefits represent a significant long-term fiscal commitment for territorial governments. Adjusting these formulas affects both the future cost to taxpayers and the retirement security of sitting and future executives, making it relevant to broader discussions about government spending and public sector compensation.

Potential points of contention

  • Retroactivity concerns: Whether reduced percentages apply only to future service or also affect current executives' accrued benefits, which could trigger legal challenges
  • Competitiveness for recruitment: Lower retirement benefits may impact the territory's ability to attract qualified candidates for these high-level positions
  • Fairness and vesting: Questions about whether changing benefits mid-career for current officeholders violates implicit contractual expectations or pension law principles

Compiled from official sources — confirm details with the bill’s official record.

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