• The Retirement Fund is not making money anymore and they are pulling out their money little by little from the stock market to put in the banks.
• The retirees are being paid by our pension money and the Fund’s life span is dying faster than we know.
• The Fund wants to save itself through the rollover plan. This is to allow the non-retired members to withdraw 50 percent of their money and put the 50 percent into the new retirement plan.
I have these questions in my mind and I ask all the members of the Legislature and the Retirement Fund to think about them:
1) You said the Fund is not making money anymore and you’re now using non-retirees contributions to pay the retirees. Is this right? Take someone’s money to pay your obligation without their say-so?
2) This rollover plan — what funds are you going to save when you’re not making money anymore? Because this sounds like taking half our money so that you can be able to pay your obligations. Don’t we the members have the right to know what’s going on? Have you done any survey to find out how many are still waiting to retire, to withdraw or not to withdraw?
3) We are so scared now of losing our money. What guarantee do you have that us non-retired members will get equal share? I mean, this rollover sounds like you’re saving some money to pay for the retirees, but not us, the non- retirees. Is this fair? Your only concern is the retirees’ benefit but not ours.
4) Wouldn’t it be better to allow all members to withdraw and then start anew? As for those who are already retired, I think it is fair that if they finish their contributions, then let them go back to work or find other benefits that are legally theirs. Don’t take ours and give it to them.
5) We are suffering due to the high cost of utilities, the 16-hour salary cut, plus now our hospital will be privatized, and now you’re going to again take something from us. Are you aware that we non-retirees have it worse compared to those who are retired? I mean, retirees can work and still receive pension. Us non-retirees are now suffering from the 16-hour cut and do not have the same opportunity to get another job.
Face it people, you’re broke already so stop taking what is ours and making plans with it without asking us.
If I’m wrong then explain it to us so that we all understand. And please simplify your explanation in a way everybody can understand.
WINNIE ATALIG
San Jose, Tinian
