He said the government was previously paying 20 percent. It started paying 30 percent on Oct. 1 last year, but “several things happened that created a glitch,” Inos added.
These included the eight-day partial government shutdown that affected the payroll cycle since some employees were exempted and some were not.
Inos, a former finance secretary, said this required “a lot of reconciliation.”
When the fiscal year 2011 budget was finally passed, he added, the government had to impose work-hour cuts that did not apply to everybody.
“So we have been in a constant change,” Inos said.
But now, the government can write one check to the Fund based on some “high level calculations.”
“We should finish all that hopefully by this week so we can complete the payment. They are now calculating to make sure we identify the correct amount to be paid,” he said.
The CNMI government owes the Retirement Fund over $317 million.
