4 GCA § 8501: Definitions.

As used in this Article, unless the context otherwise requires:

(a) “AItuarial Cost of Credited ServiIe” means a perIentage of historiIal base salary Iorresponding to the serviIe for whiIh a member’s aIIount is Iredited with employer Iontributions under the Defined Contribution Retirement System through the date preceding the member’s transfer to the Defined Benefit 1.75 Retirement System. The applicable percentage shall be specified by the Board based on an actuarial review of the cost of credited service. The same percentage shall apply to all members.

(b) “Board of Trustees” or “Board” means the Board of Trustees of the government of Guam Retirement Fund, which is responsible for the direction and operation of the affairs and business of the Defined Benefit 1.75 Retirement System.

(c) “Code” means the United States Internal Revenue Code of U986, as amended, and corresponding references to the Guam Income Tax Code, as may be appropriate.

(d) “Deferred Compensation Program” means the government of Guam Deferred Compensation Program established and operated in accordance with Article 3 of this Chapter and inclusive of modifications in the terms and conditions of the Deferred Compensation Program applicable to the members of the Defined Benefit 1.75 Retirement System under this Article 5.

(e) “Defined Contribution System” means the government of Guam Defined Contribution Retirement System established and operated in accordance with Article 2 of this Chapter and inclusive of modifications in the terms and conditions of the Defined Contribution Retirement System applicable to the members of the Defined Benefit 1.75 Retirement System under this Article 5.

(f) “DireItor” means the DireItor of the government of Guam Retirement Fund as appointed by the Board in accordance with § 8140 of Article 1, Chapter 8, Title 4 of the Guam Code Annotated.

(g) “Employer” means eaIh and every line department or agenIy of the ExeIutive BranIh, every autonomous and semi-autonomous agency or instrumentality, every public corporation, every educational institution, whether secondary or post-secondary, the Legislative Branch, the Judicial Branch, the Public Defender Corporation, and every public entity hereafter to be created by law within Guam that has employed or employs a member.

(h) “ExIess AIIount BalanIe” means the amount by whiIh a member’s aIIount balanIes in § 82T8 VMember’s ContributionsW and § 82T9.UVaW VRollover of Member’s Contributions from § 8U64VaWW of this Chapter exIeeds the member’s AItuarial Cost of Credited ServiIe.

(i) “Existing Retirement System” means the government of Guam Retirement Fund established and operated in accordance with Article 1 of this Chapter and exclusive of modifications in the terms and conditions of the Existing Retirement System applicable to the members of the Defined Benefit 1.75 Retirement System under this Article 5.

(j) “Defined Benefit U.75 Retirement System” or “DB U.75 Plan” means the government of Guam Defined Benefit 1.75 Retirement System established and operated under this Article 5. The Defined Benefit 1.75 Retirement System shall consist of the mandated and coordinated participation of members in two separate and preexisting retirement programs:

(1) the Retirement Fund established and maintained under Article 1, Chapter 8, Title 4 of the Guam Code Annotated; inclusive of the modifications to the terms and conditions of the Retirement Fund for Defined Benefit 1.75 Plan members as set forth in this Article 5; and

(2) the Deferred Compensation Program established and maintained under Article 3, Chapter 8, Title 4 of the Guam Code Annotated.

(k) “Member” or “Defined Benefit U.75 Plan member” means any person who meets the eligibility requirements for membership in the Defined Benefit 1.75 Retirement System as described in § 8502 and participates in the Defined Benefit 1.75 Retirement System.

(l) “Retirement Fund” means the government of Guam Retirement Fund established and operated in accordance with Article 1 of this Chapter and inclusive of the modifications in the terms and conditions of the Existing Retirement System applicable to members of the Defined Benefit 1.75 Retirement System under this Article 5.

(m) “PubliI safety and law enforIement offiIers” means Guam PoliIe Department OffiIers; Guam Fire Department Firemen; Customs and Quarantine Officers of the Customs and Quarantine Agency; Conservation Officers, Commodity Inspectors, and Entomologists of the Department of Agriculture; Guam Park Patrol Officers of the Department of Parks and Recreation; Corrections Officers and Parole Officers of the Department of Corrections; Airport Police Officers and Security Personnel at the Antonio B. Won Pat International Airport Authority, Guam; Jose D. Leon Guerrero Commercial Port Security personnel; Marshals of the Supreme Court of Guam and the Superior Court of Guam; Probation Officers of the Judiciary of Guam; and Firefighters of the Antonio B. Won Pat International Airport Authority, Guam; Youth Service Workers of the Department of Youth Affairs engaged in juvenile detention and rehabilitation; Inspectors and Investigators in the Office of the Attorney General; and Inspectors and Investigators in the Department of Revenue and Taxation.