The cooperation of the retirees is also needed, he said in an interview.
“Bankruptcy is not something the Retirement Fund looks forward to and it is our intention to work with the administration to find ways to solve these issues,” he added.
But he admitted that it will “take time” before the pension agency collects what is owed by the government.
Last year, Associate Judge Kenneth Govendo ruled that the government owed the Fund at least $231.6 in unpaid employer contributions.
Some retirees have filed a lawsuit in the local trial court against the Fund over the denial of their retirement benefits.
Another lawsuit was filed in federal court, urging the U.S. government to appoint a federal receiver for the Fund.
Igisomar said the Fund is undergoing “necessary negotiations” with the administration and will be working with executive and legislative branches of the government “to find solutions.”
A meeting with the administration has been scheduled for the second and third weeks of this month to review possible solutions.
“We try to make sure we are focused, despite the lawsuits and other hurdles,” Igisomar said.
He added that the Fund will do “everything it can” to continue paying the retirees’ pensions.
Igisomar said the board is planning to “settle the negotiations with the government and we are hoping that everything will be in line by the end of the month.”
He added, “Through negotiations, we are able to have the government pay its contributions.”
The board will work diligently with the government to “take the money we have right now so we can move forward and support the retirees.”
With over $350 million left in its investment portfolio, Igisomar said investing the money wisely “will help make it grow.”
For this year, he said, the board is working with the health insurance company Aetna to lower the cost of insurance options.
