To House Speaker Eli Cabrera and all House members: The Fitial administration has asked that HB-17-226 be withdrawn because it would be a hindrance in brokering a deal with U.S. Social Security.
As active employees, we urge you not to withdraw this bill. So far the administration has offered sparse details as to how the Social Security deal would work or whether it will work at all. Until a representative from the Fitial administration meets the active employees and fully discloses detailed information about how a social security bill would work and active employees are engaged in the decision, withdrawing HB 17-226 is premature.
The obligation to fund current retirees and Fund expenses should not be placed on those who are still working. That is where it is now.
It is imperative that immediate action be taken to allow active employees to protect their futures and that of their families.
Should HB-17-226 be amended, those employees with 15 years of service want to be able to withdraw their contributions either in whole or in part, without the loss of employment.
These are active, dedicated employees who wish to continue making contributions to government service. Offering them the option of withdrawing funds only if they resign from government service is no option at all.
Current law permits active employees with under 15 years of approved government service to withdraw their contributions if only they resign. This is not an option for many of us who wish to contribute to the CNMI economy, raise our families, and continue to provide services.
The current plan as structured is inequitable, if not illegal. The government requires all active employees to pay a considerable portion of their salaries to the government pension plan.
Those active employees still paying into the Fund will never see a dime of their contributions, as matters now stand.
Note: To active employees, meeting at 6:30pm, Multi-Purpose Center, Susupe, May 22, Tuesday.
As Matuis, Saipan