Meeting each other in court all the time is not conducive to solving problems, he added.
The Fund filed for a preliminary injunction a few days after Inos signed Public Law 17-51 which allows retirees to sue in case the trustees fail to do so.
The pension agency claimed that the law was unconstitutional, but Judge Kenneth L. Govendo disagreed.
Inos said what the Fund and the administration need to do now is sit down and talk.
“We need the Fund’s board [of trustees] to sit down with us. Right now, they are taking these things on their own. And what we need to do is sit down and figure out a solution,” he added.
In related news, Inos said he supports the idea of allowing defined benefit plan members to withdraw their contributions and move to the defined contribution plan.
He said House Bill 17-226, which Speaker Eli D. Cabrera introduced recently, is essentially “a follow through from the current system where employees will become members of defined contribution plan as opposed to the defined benefit plan.”
“So basically I’m saying that members of DB plan who are still active may withdraw their contribution and move on to DC plan and that is what the bill says,” he added.
