The hearing, scheduled for Dec. 10, is set to address the government’s compliance with its annual payment obligations to the fund, which is critical for ensuring that retirees continue to receive their benefits.
The NMI Settlement Fund was established following the class-action lawsuit Betty Johnson v. Eloy S. Inos, after the collapse of the original NMI Retirement Fund. Under the settlement agreement, the CNMI government is required to make annual payments to the fund, which in turn pays at least 75% of retirees’ full benefits. These payments are essential for the financial stability of thousands of retirees who depend on the fund for their livelihood.
In her issued order, designated Judge Frances Tydingco-Gatewood called both the governor and the finance secretary to provide direct answers regarding the government’s payment status, future commitments, and any obstacles to fulfilling its obligations.
