ACTING Gov. David M. Apatang on Thursday informed NMI Settlement Fund Trustee Joyce C.H. Tang that the administration will make an immediate payment of $524,507 for the April 15, 2024 pay-period, “ensuring that retirees’ pension and benefits are not disrupted due to the processing time of the new appropriation.”
Apatang sent the letter to Tang after the House of Representatives unanimously passed the Senate version of House Bill 23-104, which appropriates $5.2 million for the retirees’ 25% benefit. The finding source is the dividend collected by the Commonwealth Economic Development Authority from the Commonwealth Utilities Corp.
To pay for the pension for the April 15, 2024 pay-period, Finance Secretary Tracy B. Norita said the funding source is the general fund through the governor’s reprogramming authority.
For the April 30, 2024 pay-period, the funding source will be the $5.2 million appropriated by H.B. 23-104, which Apatang signed into law on Thursday.
Apatang said he and Gov. Arnold I. Palacios, who was on Guam, commend the House and the Senate for “acting swiftly to secure the appropriation and look forward to the immediate action of CEDA to provide the needed funds upon the enactment of the appropriation bill.”
“This collective effort between the executive and legislative branches demonstrates the shared commitment that retirees’ pension will continue to be funded and their livelihood uninterrupted,” Apatang said.
Palacios earlier said that the government’s voluntary remittance of 25% of the retirees’ pension would be suspended beginning April 15, 2024 due to lack of funds.
He said the enactment of House Bill 23-104 would allow the 25% payment to last until Aug. 31, 2024.
Under the settlement agreement approved by the federal court, the CNMI government is not required to pay 25% of the retirees’ pension.
