House Legislative Initiatives 16-13 and 17-1, which will be on the Nov. 2 ballot, will address the solvency of the Fund, he said.
Sablan has asked Gov. Benigno R. Fitial to instruct the government team negotiating with the Fund to spread the word about the legislative initiatives through village meetings, print and broadcast and “any other available means of communication.”
H.L.I. 16-13 will prohibit any increase in retirement benefits until all government obligations to the Retirement Fund have been satisfied or the system is fully funded.
H.L.I. 17-1 will authorize the government to issue a pension obligation bond to pay off its debts to the Retirement Fund.
The Superior Court ruled that the government owed the Fund $231 million as of April 2009.
Sablan said it is important to convince voters how the pension obligation bonds are going to be paid.
Sam McPhetres’ students at Northern Marianas College are helping the education commission educate the public about these initiatives.
“We highly appreciate the efforts of the students but definitely this is not enough public education,” Sablan said.
He said his group is ready to meet with the government’s negotiating team to discuss an “intensified” public information campaign.
