Settlement Fund’s deeper hole

The CNMI has floated the idea of borrowing pension obligation bond to the tune of $200 million to cushion what’s now known as the Settlement Fund (retirement). The disastrous insolvency of the program is very troubling. It’s saddled with some $791 million in unfunded liability....
Posted On Aug 11 2014 04:00
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Bordallo bill seeks to extend Social Security to GovGuam employees

WASHINGTON, D.C.—Delegate Madeleine Z. Bordallo introduced Thursday last week a bill that would amend the Social Security Act to extend eligibility for Social Security and Medicare coverage to employees of the Government of Guam. Under current federal statute, the governments of...
Posted On Aug 05 2014 04:00
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Poor budget planning

Pension plans are employee benefits. Because of the way CNMI government leaders have approached budget planning in the past few years these benefits are being taken away. CNMI government employees are going into the Social Security system. Since the negotiations regarding this...
Posted On Jul 18 2012 02:17
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We need proof and we need our money

It doesn’t matter where you put the money anymore. Both the board of trustees and lawmakers have no better solution. But at least, in today’s article, Gov. Fitial has a point. Only we just need proof. Like, for example, who are these beneficiaries? Are they relatives of the...
Posted On Jul 05 2012 06:42
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