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Fund seeks over the cap salary for director
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Posted on Oct 14 2008
Gov. Benigno R. Fitial has allowed the NMI Retirement Fund to pay its most senior employee more than the government salary cap.
Mario Taitano, the only remaining employee who has worked at the pension agency since its inception in 1980, will be paid $13,000 for his last three months at work. On an annual basis, this pay rate amounts to $54,000, exceeding the government’s salary ceiling of $50,000 a year.
Taitano serves as member services director for the Fund. His previous contract allowed him to receive $54,000 a year because it had been signed before the law barred government agencies from paying more than $50,000 to non-licensed professionals.
His contract expired in September 2008. Under the law, his new contract should be comply with the salary restriction. But according to Fund board chairman Juan T. Guerrero, Taitano should be exempted from the cap because of his invaluable knowledge and expertise.
Guerrero also noted that Taitano could have retired when his contract expired in September. However, Taitano wants to work an additional 90 days to help the Fund automate its benefits system. The new software is expected to be completed in December 2008.
“As the Fund’s most senior employee, Mr. Taitano possesses institutional knowledge about the history of the Fund; the applicable laws affecting the Fund; and the legislative intent of those laws that make his continued employment at the Fund critical in automating the Fund’s benefits system,” he said.
“Mr. Taitano may not hold the necessary certification to exceed the salary cap of [Public Law] 15-31, however, his institutional knowledge, expertise, and experience will ensure the software is properly formatted to ensure all Fund members’ benefits are computed accurately,” he added.
