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Unpaid employer contributions now total $221M
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Posted on Jan 10 2012
By Moneth Deposa
Reporter
Reporter
Autonomous agencies and the central government have accumulated a total of $221.054 million in unpaid employer contributions to the Retirement Fund as of Nov. 30 last year.
In his report to the board, acting Fund comptroller Pablito Amog disclosed that the central government owes the pension agency $181.042 million while autonomous departments’ unpaid obligation now totals $40.012 million.
It was also learned that, except for the CNMI government itself, no autonomous agencies are complying with the newly mandated 60.8 percent employer contribution rate since Oct. 1, 2011, adding to these agencies debt with the Fund.
Among independent agencies, the Public School System tops the list with the highest unpaid employer contribution of $26.7 million, followed by the Northern Marianas College, which owes $6.4 million. Other agencies on the list are the Tinian Municipal Treasury, $1.6 million; Commonwealth Utilities Corp., $3.9 million; Commonwealth Health Center, $328,090; Commonwealth Development Authority, $10,128; Commonwealth Ports Authority, $67,323; Marianas Visitors Authority, $786,103;Tinian Gaming Commission, $26,742; and the Tinian Municipal Office, $23,300.
Besides the unpaid employer contributions, the Fund disclosed that the CNMI government also failed to remit other obligations to the agency, including the death claims loan payment of $299,776 for 10 months plus 10 percent penalty; the judicial building loan payment with an accumulated total of $1.187 million as of Nov. 30, 2011; and the unremmitted $1.7 million balance for the fiscal year 2011 appropriations and $727,882 in unremitted 20 percent and 30 percent hotel and container taxes.
