They are supposed to enjoy the remaining years of their lives. What will happen to them?
Folks, we can’t deny that a concerted effort to face this community problem is needed.
There is no way our parents or grandparents could go back to work. What job opportunities are available to them in this economy? Zero. How about their children or grandchildren who also rely on those pensions?
There are so many questions that need answers, but there is no excuse for maintaining the status quo. An actionable plan and prudent response are needed. Procrastination is not a choice. We can’t wait until everything is too late.
Let me present various questions that relate to this issue:
1. Is it true that you don’t need to care about the pension liability because anyway it is a government problem?
2. How did we get to this dire financial situation?
3. Why do we continue ignoring the unfunded pension liability?
4. Would you allow this to continue or are you prepared to confront this problem?
5. Did we forget the many promises made or the unwillingness to fulfill them?
6. Did we learn from our past actions?
Reasonable, fair and responsible individuals or entities can address these questions with all honesty.
These letters will continue as we seek more dialogues so we can exchange ideas in finding a solution to this dilemma.
I request all Fund members to participate. Let our voices be heard and be part of the solution.
God Bless the Retirement Fund and the CNMI.
NOEL M. SORIA
Former Comptroller
Retirement Fund
Virginia Beach, Virginia
