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Administration remits $1.73M in retro payment to retirees
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Posted on Sep 11 2020
The Torres-Palacios administration has transferred $1.73 million to the NMI Settlement Fund for the retroactive payment of the retirees’ 25% pension benefits.
Finance Secretary David DLG Atalig confirmed with Saipan Tribune yesterday that they remitted Wednesday $1,735,837 to the Settlement Fund for the pay period of April 15, April 30, and May 15, 2020. He said the Settlement Fund will process the payment for the retirees next week. He said the money came from the government’s general fund.
Atalig said this remittance was at the urging of Gov. Ralph DLG Torres, Lt. Gov. Arnold I. Palacios and Senate President Victor Hocog for him to ensure the retirees are paid as soon as possible.
Sen. Teresita Santos (Ind-Rota) said the money will retroactively pay retirees whose pensions were reduced by 25% for three consecutive pension periods. She said the request for retroactive payments have been followed up several times by both Hocog and Senate vice president Jude U. Hofschneider (R-Tinian), and Senate members.
While the CNMI government is not required to pay the 25% benefit payments under the Betty Johnson class action settlement deal, it has voluntarily made payments to the retirees. The Johnson’s settlement agreement required the government to pay 75% of the retirees’ pension benefits.
