Act now to save your Retirement Fund contributions: Part 2

Dear Active Employees of the Defined Benefit Retirement Plan: The experts say that the Fund has 2-3 years left until bankruptcy.

Did you know that Judge Govendo issued a court order for the Fund to preserve $100 million for our refunds? We understand we have a right to our money.

However, Fund regulations state that you must quit for six months (actually nine months-they don’t start counting until you get your check). For teachers that is a whole school year.

Why nine months? It’s your money. You have paid into a “mandatory” system for your entire tenure. All this time you haven’t paid into social security. When the Fund goes, you will have nothing left.

One hope: Eli Cabrera’s bill H.B. 17-226 was designed to allow active employees to transfer our money out of the Fund. The House passed it; the Senate amended it, it went back to the House-they killed it. A conference committee was formed over two months ago to find a compromise.

According to the article (“Cabrera: Most teachers want their money back,” Marianas Variety, March 28), the first conference committee meeting to review Eli Cabrera’s bill was held on March 27. One major problem: According to the article, only one senator showed up, Jovita Taimanao.

Active employees/voters take note: this may your last hope of seeing your money that you have paid into this system. After two months of delay, only one senator shows up? (See list below of other members included in the conference committee).

Let the conference committee hear your voice. Your vote can decide these committee members’ political future. They will be meeting soon (see members below). Act now to save your money.

Even easier, go to their website, http://www.cnmileg.gov.mp/, click on HOUSE or SENATE then MEMBERS. Just click their names to send an email.

Call the House clerk at 664-8856 to find out when the next conference committee meeting is.

Conference Committee Reps:

HOUSE:

– Felicidad Ogumoru, rep.ogumorof@cnmi.leg.gov.mp
– George Camacho, rep.camachog@cnmi.leg.gov.mp
– Terisita Santos, rep.santost@cnmi.leg.gov.mp

SENATE:

– Jovita Taimanao, sen.taimanaoj@cnmi.leg.gov.mp
– Ralph Torres, senatorrtorres@gmail.com
– Jude Hofschneider, senatorjuhofscheider@yahoo.com

I am compiling a list of active employees email addresses, so we can stay in touch for future meetings, petition signings, etc. If you wish to be included, just email me a jburke@hotmail.com

Mark Staal
As Matuis