Refund of Retirement Benefits
- Affected members have 30 days from the policy's publication date to refund previously received retirement or separation benefits.
- The refund amount includes the gross sum actually paid by GSIS during prior retirement/resignation.
Interest on Refunded Amounts
- The refunded amount is subject to a simple interest of 2% per month.
- The interest accrual applies only to retirement/separation benefits paid by GSIS.
- Gratuity benefits provided under R.A. 1616 by the agency are exempted from interest charges.
Off-setting of Benefits Prohibited
- No off-setting or deduction is allowed between previously received retirement/separation benefits and benefits due from subsequent retirement.
- This means benefits received earlier remain separate and must be refunded if conditions apply, without affecting new claims.
Treatment of Employees Re-employed after June 24, 1997
- Re-employed members after this date are considered new entrants under R.A. 8291.
- No refund of prior retirement benefits is required or allowed.
- Previous service records do not count in computing benefits for subsequent retirement claims.
Repeal and Supersession of Prior Issuances
- All conflicting prior Policy and Procedural Guidelines, Board Resolutions, Office Orders, or other related GSIS issuances are modified, superseded, or repealed.
Board Deliberations and Voting
- Approval was by majority vote with some dissent and abstentions.
- Trustee dissented on denying refund to re-employed employees post-June 24, 1997.
- Trustee abstained, another inhibited himself during voting.
- Trustee not present during initial vote was allowed and voted in favor during subsequent meeting.
Effectivity and Publication
- The policy takes effect upon publication in the Official Gazette or at least two newspapers of general circulation.
- The Policy and Procedural Guidelines are attached and form part of the Board Resolution.
This resolution establishes clear procedural rules and financial obligations concerning re-employed government officials or employees who have previously received retirement benefits. It aims to regulate refunding practices, interest imposition, and administrative treatments, ensuring proper handling in line with existing laws and regulations.