Except for the NMI Retirement Fund and the Workers Compensation Commission, no government agency and department has complied with the new actuarial contribution rate that was implemented this fiscal year 2012.<\/p>\n
This is what Fund officials and board of trustees revealed Friday during its regular meeting where they also disclosed that unpaid employer contributions of mostly autonomous agencies now amounts to $38 million.<\/p>\n
The actuarially determined rate for employer contributions is set at 60.8686 percent beginning Oct. 1, 2012. In a report to the board, its acting comptroller Pablito Amog indicated that the CNMI government and other agencies do not contribute at this level as of end of October this year.<\/p>\n
The board revealed that the outstanding obligation to the Fund may double this fiscal year if unpaid contributions are not resolved. <\/p>\n
The deficient employer contribution of $38,094,133 is from 11 agencies and departments, and this was a result of the implementation of several laws that changed the contribution rate of some agencies\u2014from zero to 11 percent, to 24 percent, and 37 percent levels.<\/p>\n
Records show that the Public School System incurred the highest delinquent contribution of $26.7 million as of Oct. 31 while Northern Marianas College came next with a deficient contribution of $6.3 million as of the same period.<\/p>\n
Also registering a huge unpaid contribution is Commonwealth Utilities Corp. with $3.9 million which figure is being disputed by the utilities company. It was early this year when the Fund sued CUC for its unpaid obligation. A settlement proposal has been offered by CUC which determined amount of obligation was countered by the Fund.<\/p>\n
Board chair Sixto Igisomar told Saipan Tribune Friday that the Fund is still firm in its stand that the amount was the right obligation due to the Fund. \u201cThere may be some confusion on the matter because of the different laws [on contribution rate], but we based our figures on what is the right law [to follow]. CUC came out with their amount and we countered them,\u201d he said.<\/p>\n
Other agencies in delinquent employer contributions include the Commonwealth Health Corp., $231,444; Credit Union, $202.95; Commonwealth Ports Authority, $1,515; Marianas Visitors Authority, $768,178; Northern Marianas Housing Corp., $950; Tinian Casino Gaming Commission, $15,123; Tinian Municipal Treasurer, $10,001; Tinian Mayor\u2019s Office, $22,324; and Tinian Youth Center, $5,192.<\/p>\n
Igisomar confirmed that agencies and departments are not complying with the new actuarial rate because of their own \u201creasons and issues.\u201d However, he said that the Fund will continue to enforce the rate policy and unpaid obligation will remain in their books. \u201cThey have their reasons and issues\u2026but we\u2019re booking them,\u201d he said.<\/p>\n
Igisomar, on the issue of passing the unpaid employer contributions of certain agencies to the central government, said there remains legal questions to resolve. It has been disclosed earlier that PSS and NMC are negotiating with the administration on these unpaid obligations to the Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"
Except for the NMI Retirement Fund and the Workers Compensation Commission, no government agency and department has complied with the new actuarial contribution rate that was implemented this fiscal year 2012.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-157303","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/157303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=157303"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/157303\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=157303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=157303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=157303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}