Guam Proposed Additional Compensation Plan with copy of plan
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How to fill out Proposed Additional Compensation Plan With Copy Of Plan?
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FAQ
Hear this out loud PauseThe GPP consists of all positions that are not included in the NPP, LEO, EDU, ATTY, and EXEC pay plans within the Government of Guam. This plan is the mast comprehensive as it includes the widest varieties of positions in the government across different industries and professions.
Living in Guam is very expensive! To help offset this high cost, General Schedules (GS) employees receive a 16.50% locality pay (included in the salary table at SALARY TABLE 2023-RUS (opm.gov). In addition, GS employees receive 12.25% cost of living allowance (COLA) in addition to their basic pay.
Hear this out loud PauseGuam has no specific retirement age that is mandated by law. This means that individuals are free to retire whenever they choose, as long as they are able to financially support themselves.
Hear this out loud PauseCalPERS 457 Plan The plan is a voluntary savings program that allows employees to defer any amount, subject to annual limits, from their paycheck on a pretax basis. In addition, employee contributions and their earnings, if any, can benefit from the power of tax-deferred compounding.
Hear this out loud PauseThe Defined Contribution Plan ("401(a) DC Plan") includes a hardship provision in which DC active participants may apply for a hardship withdrawal while still employed with the Government of Guam.