Heinz: I’m not running for delegate to US Congress

Former speaker Heinz S. Hofschneider said he is not running for CNMI nonvoting delegate to the U.S. House of Representatives in November, quelling speculations that he will be challenging incumbent Delegate Gregorio Kilili Sablan (Ind-MP).

Sablan is so far the only one who has formally announced his candidacy in the Nov. 6 polls.

Hofschneider, who ran against Gov. Benigno R. Fitial in the last gubernatorial election, was among those at the luncheon hosted by Fitial on Friday for Matt Romney and wife Laurie. Matt is the second oldest son of Republican presidential candidate Mitt Romney.

“I’ve been approached about the rumor. The rumor is totally false. I’m not interested in politics. I’m not even running in this midterm election,” Hofschneider said.

Fitial, chairman of the Republican Party of the NMI Association, said in a separate interview that while there have been Republican names considered for the delegate post, the party has yet to make a final decision.

Hofschneider said he is focused on helping the NMI Retirement Fund not go broke, but was quick to point out that he’s not a consultant for the Fund.

“I’m not a consultant of anybody but to the speaker of the House,” he said, referring to Speaker Eli Cabrera (R-Saipan).

The NMI Retirement Fund was reportedly planning to hire Hofschneider as consultant for the pension agency for $70,000 a year. That didn’t sit well with some retirees and government officials.

Among them is former lieutenant governor and speaker Diego Benavente, now a Commonwealth Retirees Association director, who said the Fund should not be a place for “political consultants” like Hofschneider.

But Hofschneider said “some of the politicians today that are creating all these commotions and difficulties are responsible for the mess.”

“They should put aside their politics and come up with a solution so that we can work together and resolve some of our most critical problems,” he said.

Hofschneider said people do not realize the consequences of having the Fund go broke. “We have two years remaining for the Retirement Fund and if we don’t find a way to save [it], it’s not only the 4,000 retirees and dependents that are worried about their livelihood,” he added.

Hofschneider said the CNMI does not have the capacity to borrow money now to help the Fund, including some lawmakers’ proposal for a pension obligation bond to pave the way for a $300 million to $400 million borrowing.

“We don’t have the means. No creditor or lender out there is going to look at us and allow us to borrow at least $300 million to $400 million to save the [Fund]. To borrow that amount of money, we’re looking at $10 million to $15 million per year of debt payment,” he said.