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‘Legislature not doing job to find ways to subsidize retirees’ pensions’
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Posted on Aug 22 2022
Torres
Gov. Ralph DLG Torres said Wednesday it’s the Legislature’s job to make revenue-generating bills, but he does not see any legislations that are being passed to subsidize government retirees’ 25% pension benefits.
Torres said in an interview with the media that the administration is already saving funds for retirees in case the House of Representatives fails yet again to pass any revenue-generating bills.
“So we are working and making sure that the retirees get their full pension by working with the Senate,” he said.
The governor noted that Senate President Jude U. Hofschneider (R-Tinian) recently came out to express support on what needs to be done for the administration’s continued commitment to pay the retirees’ additional 25% pension benefits.
The CNMI government is mandated to pay only up 75% pension benefits to retirees under the U.S. District Court for the NMI-approved settlement agreement.
“But for us, rest assured that we will set aside some funding to assure the retirees get 25%, and or the full 100%,” Torres said.
Torres recently announced that his administration will pay for the remaining 25% pension benefits this first quarter of the new fiscal year, thus giving the retirees 100% of their pensions.
Torres said that $3.27 million—or $545,000 bi-weekly—will be remitted to the CNMI Settlement Fund to cover the first quarter of fiscal year 2023 for the period Oct. 1, 2022 to Dec. 31, 2022.
Last week, the governor reiterated his appeal to the Legislature to start looking into passing revenue-generating bills and coming up with revenue-generating ideas and making it a reality. He pointed out that he is “making things happen” and working with the government’s private partners, including the launch of a new interisland airline, Marianas Southern Airways, and the return of the Japanese market this September, even as the Korean market continues to improve even during COVID-19 pandemic.
The governor said they are looking at other destinations, perhaps even Australia, to come in and even bringing back the Philippine market.
“So while I do this, the Torres administration, I urge the Legislature to please look into revenue-generating bills,” he added.
