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Last updateFri, 22 Jun 2018 12am







    Thursday, June 21, 2018-6:34:55P.M.






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Governor, Finance secretary ordered to appear at Retirement Fund status hearing

DISTRICT Court for the NMI Magistrate Judge Joaquin V.E. Manibusan Jr. has summoned Secretary of Finance Larrisa Larson and Gov. Ralph Deleon Guerrero Torres or, in his absence, Lt. Gov. Victor Borja Hocog, to a status hearing scheduled for Sept. 27, 2017 regarding the Betty Johnson class action against the Retirement Fund.

The federal clerk of court at the same time noted the receipt of a letter from Mariano Taitano a retiree member in the class action who said he is disappointed with the Settlement Fund trustee, Joyce Tang.

Two weeks ago, Judge Frances M. Tydingco-Gatewood ordered Tang and other parties to report whether all issues in the Betty Johnson’s class action have been resolved, and whether the case can now be closed in light of the settlement.

The federal judge instructed Tang to make a presentation on Sept 27, 2017 at 9:30 a.m.

In 2013, a global settlement agreement was reached in Johnson’s class action against the Retirement Fund and the CNMI government.

The agreement settles the issue on how the Retirement Fund could collect from the CNMI government and eventually pay the retirees and refund the employees’ contributions.

The Settlement Fund is a not-for-profit, tax-exempt entity created by the court-approved settlement agreement.

Pursuant to the Federal Rules of Civil Procedure, Governor Torres was automatically substituted as the defendant in Betty Johnson’s class action.