Allaying fears of a blue New Year among retirees, the financially distressed government managed to remit the needed funds to meet the $2.3 million pension obligations to retirees yesterday.<\/p>\n
NMI Fund administrator Karl T. Reyes said the Department of Finance paid a total of $875,000 in employer contributions, which the Fund used to meet its pension payment.<\/p>\n
He said that $375,000 was remitted Thursday and the balance of $500,000 got in yesterday.<\/p>\n
On top of this, the department also paid $121,000 for the health insurance program, Reyes said.<\/p>\n
Autonomous agencies also remitted $700,000 in employer contributions, he said.<\/p>\n
\u201cWe\u2019ve got more than enough. We\u2019ve been able to pay our retirees,\u201d said Reyes.<\/p>\n
The NMI Retirement Fund earlier cited a $1.4-million shortage for the Dec. 30 pension checks. Fund officials and a representative from the Retirees Association met earlier this week with Gov. Juan N. Babauta to lobby for the needed funds.<\/p>\n
The Fund first settled its pension obligations to retirees who are getting their pay through bank accounts. Their money was deposited to their accounts about two days before yesterday.<\/p>\n
Those who claim their pension checks directly from the Fund cashed them only yesterday.<\/p>\n
There are some 2,000 government retirees who claim their pension from the Fund every 15 days, totaling $2.3 million or $55.2 million a year.<\/p>\n
Retirees receive pensions ranging from a low of $6,000 to a high of $168,000 a year.<\/p>\n","protected":false},"excerpt":{"rendered":"
Allaying fears of a blue New Year among retirees, the financially distressed government managed to remit the needed funds to meet the $2.3 million pension obligations to retirees yesterday.<\/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-96764","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\/96764","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=96764"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/96764\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=96764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=96764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=96764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}