Previous Story
Fund to stop pension of double dippers
|
Posted on Feb 10 2006
The NMI Retirement Fund board is determined to stop the pension payments of any government retiree found working again in public office, regardless of their new positions.
Fund administrator Karl T. Reyes said that the Fund board made it clear during a meeting Thursday evening that the law against double dipping would be strictly implemented.
“We have to stop the pension once we receive documents that they’re hired again,” said Reyes.
He said the law only exempts for two years four job positions: teachers, nurses, doctors, and certified public accountants. This means that employees in these job categories can double-dip for only two years. After two years, if they continue working, their pension will be cut.
“If you’re not one of these, you can’t go back to government and receive pension at the same time,” said Reyes.
He said retirees who have become elected as lawmakers have voluntarily informed the Fund to stop their pension.
He said the Fund has not determined yet if there are retirees who got hired in the Executive Branch.
He said it usually takes about three weeks before personnel records get processed for employment.
He said the Fund would know who are getting their new salaries from documents submitted by the Office of Personnel Management.
“We’d immediately know if a retiree gets paid anew. It reflects in our records here. In that case, the retiree would have to choose either to leave work or stop getting pension,” said Reyes.
He said the Fund has had many retirees complaining over this matter, resulting in the holding of public hearings.
As of October last year, the Fund had sent out notices of violation to 30 “double dipping” retirees.
Double dipping drains the government’s retirement system funds as it allows the employer, which is the government, to pay the member or a retiree twice in terms of pension benefits and salaries.
