In a statement the SSA said , thismeans that any paycheck dated October 1 or after must reflect the 2.5 percentdeduction, even if the pay period may be for the month of September. Employers will then withhold the 2.5 percent deductions until it is time for them to pay for 4th Quarter contributions in January 2011.
Social Security Administrator Greg Ngirmang explains, “We already have the revised Quarterly Report form that has SS and HCF contributions on one form. Customers can pick them up at our office or download them at our website. If they download them from our website, they can fill out the form online, save it for their files, and then print it out for reporting.”
“Another project that we’re currently very busy with is the distribution of enrollment forms to employees. We have already distributed enrollment forms to different ministries within the National Government and we will eventually print out enrollment forms for the rest of the government and for all employers in Palau.”
Ngirmang however explained thatchoosing not to fill out their enrollment forms means that they don’t have to participate in the program. Mr. Ngirmang says of the project, “The enrollment forms do not determine who wants to be a part of the HCF program or not, because as we all have been informed, the statute requires all who are working to participate. But we are giving individuals an opportunity to enroll their dependents and designated beneficiaries under their own accounts.”
As of today, over 55 of all employees working in Palau have received enrollment forms,the SSA said and the Social Security staff will continue to work with government, private employers, as well as employers of domestic helpers, to ensure that as many people are provided with their customized enrollment forms.
A civil action suit tried to stop its implementation on Oct. 1, but no temporary restraining order was issued.
