FSM Congress Hears FSM Social Security Administration (FSMSSA) Updates and Discusses Future Challenges

Palikir, FSM – September 25, 2024 – During a Congressional hearing on September 25, 2024, the Federated States of Micronesia Social Security Administration (FSMSSA) presented key updates and discussed critical issues facing the program’s sustainability and future funding strategies.

FSMSSA Administrator, in his opening statement, expressed his gratitude, acknowledging that thanks to congressional subsidies and salary increases within the FSM National Government and Pohnpei State Government, the administration has not yet drawn down from its investment portfolio this year. Additionally, the Administrator announced that the most recent actuarial study has been completed and will be released soon. This study will be instrumental in guiding the FSMSSA board and management on necessary changes to ensure the program’s long-term viability. All proposed amendments will be forwarded to the President’s Office for review, should there be necessary amendments.

Over the course of the hearing, concerns about efforts to reduce the administration’s reliance on congressional subsidies and increase of tax rate were heard. Administrator Panuelo, Jr. responded by stating that while there will always be a funding gap, management is committed to minimizing its dependency on government support through strategic budgeting and efficient use of resources. Pertaining to the tax rate increase, Administrator emphasized the need to be considerate of struggling businesses. FSMSSA is exploring balanced solutions that won’t overly burden employers while maintaining the program’s solvency. Administrator Panuelo, Jr. stressed that job creation and increase of salary is a better alternative solution than the raising of tax rate.

FSMSSA confirmed it is conducting a beneficiary survey to update its records. The survey is intended to verify beneficiaries’ current status, particularly those receiving benefits in the U.S. The Administrator clarified that recipients aged 60-64 are not required to submit IRS forms, but those working while receiving spousal benefits must comply with earnings tests.

The Administrator also addressed expatriate benefits, explaining that non-resident workers will receive a lump-sum payment of their total contributions to FSMSSA, provided they can prove they no longer reside in the FSM. Voluntary contributions remain an option for FSM citizens abroad or those without formal employment.

The hearing also discussed laws concerning remarriage and spousal benefits, as well as potential updates to adoption laws. Currently, remarriage—including customary or common-law unions—results in the loss of spousal benefits. Additionally, there is interest in revisiting the adoption age limit, currently set at 55 years old.

FSMSSA is committed to using the forthcoming actuarial study to inform future changes and improve the program. The administration will continue to work closely with Congress and the President’s Office to ensure that any amendments are thoughtfully implemented, considering both the immediate and long-term needs of FSM citizens.

FSM Social Security Administration  


You can find us on the web at www.fsmss.fm. Or you can e-mail us at sspio@mail.fm or fsmssa@mail.fm

Administrator Grants Pohnpei Branch and HQ Staff Administrative Leave to Observe Pohnpei Liberation Day.

MEMORANDUM

The FSM Social Security Administration through Administrator Panuelo, Jr., has issued the following memorandum to all Pohnpei Branch and Headquarters staff to observe tomorrow’s Holiday – Pohnpei’s Liberation Day – September 11, 2024.

Branch Offices in the States of Yap, Chuuk, and Kosrae will remain open to the public tomorrow, September 11, 2024. Management wishes to thank all staff and the general public for their understanding.

FSM Social Security Administration Participates in the 35th Annual APIPA Conference in Palau

Koror, Palau – August 26, 2024 – The FSM Social Security Administration (FSMSSA) proudly participated in the 35th Annual Association of Pacific Islands Public Auditors (APIPA) Conference, held in Koror, Palau. The event brought together over 500 participants from across the Pacific, including government officials, auditors, and finance professionals, all united under this year’s theme, “Bridging the Gap of Public Accountability and Transparency.”

The conference focused on enhancing the integrity and effectiveness of public audit and finance systems throughout the Pacific region. It provided a vital platform for FSMSSA personnel and other attendees to exchange knowledge, share best practices, and discuss innovative strategies to strengthen public accountability and transparency in government operations.

Participants of the 35th Annual APIPA Conference engaged in a series of workshops, panel discussions, and networking opportunities, all aimed at improving the governance and financial management systems of their respective institutions. The FSMSSA representatives gained valuable insights and tools that will contribute to the continued enhancement of accountability measures within the administration.

The FSMSSA remains committed to upholding the principles of transparency and integrity, and participation in the APIPA Conference underscores the administration’s dedication to fostering strong governance and public trust across the Federated States of Micronesia.

FSM Social Security Administration Conducted Beneficiary Survey Starting with Pohnpei and Kosrae in August 2024; Chuuk and Yap to follow-suit in September.

The FSM Social Security conducted its 2024 comprehensive beneficiary survey starting with the States of Pohnpei and Kosrae in the month of August; while the States of Chuuk and Yap will be following-suit in September.

The survey questionnaires are mandatory for all benefit recipients to complete. It is deemed essential as it contributes to our ever ongoing effort to maintain accurate records of all recipients. Retaining accurate records helps us to better serve you and ensure continued improved services for you. For beneficiaries who have moved abroad, this survey is vital to ensuring you continue to receive your monthly benefits.

Pohnpei and Kosrae conducted their survey in the week beginning on the 26th and ended on the 29th of August. The beneficiary survey for recipients in Chuuk and Yap will be held from September 23 – 26.

We humbly implore for your cooperation as we continue to educate and ensure security for all working citizens!

Interior Announces $820,600 in FY 2020 for Prior Service Trust Fund Program

Interior Announces $820,600 in FY 2020 for Prior Service Trust Fund
Program Provides Key Support to Elderly in the Pacific

WASHINGTON _ U. S. Department of the Interior Assistant Secretary, Insular and International Affairs Douglas W. Domenech has authorized $820.600 in FY 2020 funding for the Prior Service Trust Fund (PSTF) Administration which distributes benefits to the more than 700 former employees of the post-World War II, . Trust Territory of the Pacific Islands (TTPI) in the Western Pacific.

“The Prior Service Trust Fund program is an ongoing commitment that the United States holds in the Pacific and in particular to individuals who previously served in the former Trust Territory of the Pacific Islands,” said Assistant Secretary Domenech. “We appreciate that the U.S. Congress provides these funds for the Prior Service beneficiaries who rely on them for important basic needs.”

Employee benefits provided through the Prior Service Trust Fund represent a responsibility assumed by the Federal Government following the dissolution of the TTPI in 1986. The program serves beneficiaries with five years or more of prior service. The four jurisdictions to emerge from the TTPI were the Commonwealth of the Northern Mariana Islands, the Federated States of Micronesia, the Republic of the Marshall Islands.
and the Republic of Palau. The Commonwealth of the Northern Mariana Islands is a U.S. territory. The latter three entities are independent sovereign Pacific Island nations who each share a unique relationship with the United States under a Compact of Free Association agreement. Continue reading “Interior Announces $820,600 in FY 2020 for Prior Service Trust Fund Program”