V.I. retirees and future retirees need to start preparing themselves now for much smaller pension payments than they anticipated, because the trust fund will evaporate. There are no good options left to prevent this from happening and it may well reach a crisis point a year or two before the oft-cited 2025 date for the complete exhaustion of the trust fund.

When the system reaches that point, retirees income will drop sharply. Those soon to retire must wonder about the likelihood of any monthly income. The good news, such as it is, is that money will keep coming into the system, and GERS projections suggest retirees will still get about 45 percent of their former pensions.

So a person n…

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