14 Jun 2013

Retirement Fund in CNMI records improved cashflow

3:09 pm on 14 June 2013

The Northern Marianas Retirement Fund has noted a significant improvement in its cash flow, which could help extend its lifespan beyond 2014.

A Fund trustee ad litem Joseph Razzano says the low drawdowns made on the Fund's investments, combined with consistent remittances from the central government, are creating some progress.

He says the CNMI government now provides not only timely payments but full contributions as well.

Autonomous government agencies, however, have withheld payments and already accumulated about 62 million US dollars in outstanding obligations.