24 Nov 2011

CNMI utility disputes 4 million US dollars it owes to pension program

11:31 am on 24 November 2011

The Commonwealth Utilities Corporation is disputing the four million US dollars in unpaid contributions to the Northern Marianas Retirement Fund claims is owed them by the agency.

The CUC argued that a provision of a public law protects the utilities company from any increases in the employer contribution rate.

The provision, the utilities company says, suspended the implementation of the employer rate contribution to some agencies, including CUC.

Last May the Fund sued the utilities company for not paying its employer contributions and demanded payment of 4-point-44 million, including penalties and damages.