Guam - The Public Auditor's audit will be used as part of the Government of Guam Retirement Fund's report analyzing the feasibility of Retirement Fund reforms as outlined in the governor's spending cuts measure or Bill 507, which was lapsed into law.

The now public law requires the retirement fund to submit a report 60 days from the enactment that must include an actuarial analysis of a limited early retirement incentive program, the issuance of a pension bond to decrease the unfunded liability and any other retirement fund reforms.

Director Paula Blas tells KUAM News that the deadline was last Friday, March 1, but she has since written to both the speaker and the Governor's Office informing them that they instead will be submitting a report at the beginning of April. She says the fund will be using the audit which was just released today along with more data from its actuaries to present a more accurate analysis and complete valuation of the fund.

She adds both offices have yet to respond to their letter.