Aguon re-applied for the position but there are other applicants, including Fund Board Chairman Juan Guerrero’s son-in-law.
In a phone interview yesterday, Aguon said his notice stated that he will serve the Fund until 5 p.m. today unless his contract is renewed.
“So it’s up to the board,” he told Variety.
Aguon, an economist from the University of Hawaii, has been with the Fund for 12 years.
He first worked for the agency as a loan officer and was later promoted as loan manager.
He later became the agency’s technical analyst and also served as director of investment for five years.
Two years ago, the board appointed him as the Fund’s administrator replacing former Rep. Karl T. Reyes, who retired from government service.
Aguon said he still looks forward to serving the Fund for many years.
He lost, however, his civil service status when he became the Fund’s administrator.
The Fund administers the CNMI government’s pension program as well as the group health life insurance and disabilities benefits.
The agency continues to experience financial troubles due to previously enacted laws that increased benefits to its members without appropriate funding, and the government’s inability to regularly remit premiums for the pension benefits of its employees.
The Fund’s unfunded liabilities have ballooned to over $500 million.
