![\"Individuals](\"http:\/\/www.saipantribune.com\/wp-content\/uploads\/2014\/08\/DB-payments-pix-150x150.jpg\")
\u201cOnly those who haven\u2019t filed their Form W9, those off-island and those with inactive accounts haven\u2019t gotten their DB interest payment checks,\u201d Larson said in an interview at yesterday\u2019s 2014 Labor Day festivities in Susupe.<\/p>\n
Nelson Ebilane, 52, said he\u2019s setting aside a portion of the DB interest payments for his children\u2019s schooling, including for one of them now attending Guam Community College.<\/p>\n
\u201cI\u2019m happy to finally get the interest payment. I will be able to support my kids more,\u201d the father of five said, as he was also looking forward to the Labor Day weekend.<\/p>\n
Ebilane was among those who fell in line outside the Finance secretary\u2019s office on Capital Hill on Friday afternoon amid the sweltering heat, to get their checks. He said he worked for 15 years with the Public School System\u2019s maintenance division, and contributed to the NMI Retirement Fund\u2019s defined benefit plan during those years. <\/p>\n
Like hundreds of others who withdrew their DB contributions last year, Ebilane was relieved to also get the interest payments on those DB contributions on Friday.<\/p>\n
\u201cI thought this day would never come,\u201d he added.<\/p>\n
The more than $10 million in distributed DB interest payments came from the $30 million two-year advance license fees that casino resort developer Best Sunshine International Ltd. paid.<\/p>\n
Larson said yesterday that some $11.9 million was also released two weeks ago for retirees\u2019 25 percent pension for nine months, or from October 2013 to June 2014.<\/p>\n
\u201cWe have enough for everything, DB interest and 25-percent pension payments,\u201d Larson said.<\/p>\n
Retirees\u2019 25-percent pension checks for the months of July, August, and September will be released in early October. Future disbursements are expected to be on a quarterly basis.<\/p>\n
A 49-year-old Kagman resident, who also got his DB interest payment check on Friday, said the payment arrives at the right time because he has three children now about to go back to school, and two of them will be attending Northern Marianas College.<\/p>\n
\u201cI\u2019m happy. It\u2019s what I expected,\u201d said the father of three and who still remains in government after putting in 23 years of contributions to the DB plan before withdrawing those last year. He said he will also use a portion of those to pay off \u201csome debts.\u201d<\/p>\n
Many of those who were approached on Friday for an interview while they were in line to get their DB interest payment checks refused to be identified nor interviewed over concerns that their relatives would ask for financial help from them at a time when they, too, are in need of money for their children\u2019s education and other household expenses.<\/p>\n
\u201cI just want to get it now,\u201d one of them said.<\/p>\n
Yonie Dejillas, 73, said he will deposit \u201c99.99 percent\u201d of his money in the bank.<\/p>\n
\u201cIt will be emergency money, savings money,\u201d he said, while waiting for his turn to get his DB interest payment check. \u201cI am happy and I have no regret.\u201d Dejillas worked with PSS for 22 years and contributed to the DB plan that long.<\/p>\n
About an hour later, however, Dejillas was still waiting inside the Finance secretary\u2019s office, which was still trying to locate his check.<\/p>\n
\u201cI hope they will find it,\u201d he said, adding that he immediately filed his Form W9 as soon as the Finance secretary\u2019s office announced the need to file such tax form in preparation for the release of DB interest payment checks.<\/p>\n
Police officers from the Department of Public Safety also helped maintain peace and security around the Finance secretary\u2019s office building during the check distribution.<\/p>\n
Henry Hofschneider, special adviser to the Saipan mayor, said he would have wanted his DB plan contributions intact so he can retire financially secured.<\/p>\n
\u201cThat was the grand plan but something went wrong. Now we will all be on Social Security. We\u2019re expecting a better retirement,\u201d he said, adding that the funds he got would be used partly for his children\u2019s school needs.<\/p>\n
Acting governor Jude U. Hofschneider said yesterday that the Inos administration is delighted that the DB interest payment checks were released as soon as it can.<\/p>\n
\u201cWe appreciate the patience, over time, of the employees that are affected by this decision. I do know that it\u2019s a very significant part of every government employee that elected to join in that group [DB plan],\u201d Hofschneider said at the Labor Day festivities.<\/p>\n
The acting governor hopes those who got their DB interest payments would use them \u201cwisely.\u201d<\/p>\n
\u201cI continue to encourage them to take care of it and make sure that they use it wisely because that\u2019s funds that were hard earned over at least the last 20 years. As indicated in the settlement plan, this is part of it. We are happy that it\u2019s moving forward,\u201d added Hofschneider, who is seeking to run again as a senator representing Tinian in the Nov. 4 general elections.<\/p>\n
Acting Senate president Victor Hocog (R-Rota) separately said yesterday that there was also a line at Rota\u2019s Finance office building on Friday for the release of DB interest payments.<\/p>\n
\u201cI\u2019m glad the DB interest checks were released also on Rota,\u201d he said.<\/p>\n
The Finance secretary, meanwhile, said she\u2019s thankful for the Finance staff for their hard work and diligence in working on the release of the DB interest payments. The check distribution started at 1pm on Friday. At about 3:30pm, almost all the checks were distributed by the Finance office on Saipan. <\/p>\n
In October last year, the NMI Retirement Fund disbursed over $40 million in remaining defined benefit plan employee contributions refunded by over 1,700 individuals. That time, checks ranged from $20,000 to $100,000, based on interviews with some of the members.<\/p>\n","protected":false},"excerpt":{"rendered":"
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