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Fund says ‘double dippers’ risk losing their retirement benefits
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Posted on May 07 2009
NMI Retirement Fund administrator Mark A. Aguon warns retirees who are illegally double-dipping that it will result in the forfeiture of their retirement benefits for the remainder of the fiscal year.
A government retiree may not be re-employed by the CNMI government for more than 60 days in any fiscal year without losing his retirement benefits for the remainder of that fiscal year.
The only ones exempted from this limitation are classroom teachers, doctors, nurses and other medical professionals, but only for up to two years.
“Employers should notify their double-dipping employees that they risk losing their retirement benefits for the remainder of the fiscal year,” Aguon said in a memorandum to all department and activity heads.
Fund board chair Juan T. Guerrero said some of the illegal double dipping cases they are currently looking at may exceed $300,000 to $400,000. He said they have been receiving a lot of leads in which certain retirees were rehired.
Double dipping refers to the receipt of retirement benefits and an employment salary at the same time.
