The governor met with the lawmakers over lunch at the Fiesta Resort & Spa.
The law, P.L. 17-51, was signed by Lt. Gov. Eloy S. Inos in his capacity as acting governor, while Fitial was in Noumea, New Caledonia last week.
Rep. Joseph M. Palacios, R-Saipan said the governor told them how unhappy he was with the enactment of the law.
Introduced by Senate Floor Leader Pete P. Reyes, R-Saipan, the bill that is now P.L. 17-51 allows retirees and other Fund beneficiaries to maintain causes of action on behalf of the Fund when the board of trustees refuses to do so.
Its enactment has resulted in the termination of the contracts of the Fund’s money managers and investment consultants.
House Floor Leader George N. Camacho, Ind.-Saipan, said the draft bill repealing P.L. 17-51 will be pre-filed today.
But other members of the House leadership do not believe that there are enough votes to repeal the law.
Only four House members voted against the bill on Aug. 9. They were Camacho, Vice Speaker Felicidad T. Ogumoro, Covenant-Saipan, Reps. Francisco S. Dela Cruz, R-Saipan, and Fredrick P. Deleon Guerrero, Ind.-Saipan.
Palacios who voted yes said, “I don’t think a repeal will get enough votes right now.”
Rep. Raymond D. Palacios, Covenant-Saipan, said he also does not believe that those who supported the bill will change their position.
He said he voted yes because he believes the beneficiaries of the Fund have every right to sue in order to protect their money.
He wonders why the Fund is “so adamant” about the law. He said he wants to hear how the law will gravely affect the retirement program.
Rep. Stanley T. Torres, Ind.-Saipan, said he supported the passage of the bill and now that it’s law, “I’m not considering its repeal.”
Fitial told reporters he was not happy that Inos signed the bill because that was not what they had agreed to do before he left the CNMI.
