A hearing was held on Nov. 2 regarding the Fund’s case against the CNMI government, which the pension agency won by default.
There were discussions about the possibility of using government property like land, realty holdings, stocks of autonomous government agencies such as the Commonwealth Utilities Corp., among other things, but the administration refused to explore these options.
The judicial branch is also among government entities with debts to the Fund.
The judiciary borrowed millions of dollars from the pension agency to build the Guma Hustisia, the judicial building in Susupe. Its payments, however, have been delayed.
The court has ruled that the government must pay at least 16 percent in employer contributions to the Fund.
Negotiations on how the government can pay its debts to the Fund continue.
