Annual cost-of-living adjustments, or COLA, for Government of Guam retirees will be released next Thursday, according to the Leon Guerrero-Tenorio administration, which said this will mark the seventh consecutive year COLA payments are released ahead of the deadline.
The deadline to distribute COLA payments is Nov. 1. Gov. Lou Leon Guerrero credited the early release to the government’s “strong fiscal health.”
“Ensuring our retirees receive their cost-of-living adjustments without delay is more than a legal deadline — it is a matter of respect,” the governor said. “By processing these payments early, we are putting critical resources directly into the hands of our seniors when they need them most. This achievement highlights our ongoing commitment to managing GovGuam stable finances effectively for our community.”
Adelup said global inflationary pressures at supermarkets and gas stations are affecting everyone, particularly seniors living on fixed incomes.
“We’ve taken seriously our ongoing commitment to managing GovGuam stable finances effectively for our community. Our retirees spent decades building and serving Guam, and it is our responsibility to take care of them. Processing these payments early puts critical resources directly into the hands of our seniors when they need them most,” Lt. Gov. Josh Tenorio said.
The administration said it hopes future COLA payments under the next administration will continue to be released ahead of the statutory deadline.
It also said it hopes future leaders will avoid a return to “the days of deficit spending, cash shortfalls, and uncertain COLA releases.”