Fitial says Retirement Fund overcharging government

“Don’t sacrifice the education and health of our people,” Fitial added.

The Fund won by default its lawsuit against the government which owes the agency over $200 million in unpaid employer contributions and over $500 in unfunded liabilities.

The Superior Court will soon rule on the payment terms.

Fitial said even if the central government wants to pay, it just doesn’t have enough funds to settle its debts.

He said the Fund should enter into a mediation process with the government.

“I wrote them [Fund officials] to get together with the Legislature to work on a solution to this problem,” he said.

But Fund Chairman Juan T. Guerrero earlier told the Variety the retirees didn’t want an out of court settlement.

 

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