Monthly Archives: January 2018

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FSM Social Security Board of Trustees and Administrator attends APAFS 2017

Category : Board News , Press Releases

The Asia Pacific Association for Fiduciary Studies (APAFS) is a Guam based 501(c)3 non-profit educational and charitable association. APAFS was founded in 2000 by a forward thinking group of fiduciaries representing public and private institutional funds from throughout the diverse geographical area of the Asia Pacific
Region. Every year, FSM Social Security Board of Trustees and Administrator came in attendance to the 17th PRIC conferences. As the building body of the system, it had been a priority to extend their knowledge in every corner possible. They attended the educational expertise with APAFS to build more understanding and familiarize with the standards of practice among fiduciaries to continue the care for funds within the Social Security System. As an outcome to attending such conferences, FSMSSA looks forward to their more accomplishments in their learning process as to become AIF designees. The goal of APAFS is to raise the level of understanding and standards of practice among fiduciaries in the region by providing educational programs and opportunities, so that they may provide the most prudent stewardship of the funds entrusted to their care.

As a result, FSMSSA Administrator Alexander R. Narruhn is currently serving as a member of APAFS Board of Governors.


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FSM Social Security Conducts a Survey for its Beneficiaries of Pohnpei, Chuuk, Yap, Kosrae and Abroad

Category : Press Releases

In every two years, FSM Social Security conducts a survey to all receiving benefits from the program, either living in the FSM or abroad. The survey was conducted in all four states and outer islands beginning August and ending November 2017. Per FSMSSA regulations, the survey is the opportunity to update information on each of the beneficiaries, whether still eligible to be receiving benefits or not. Therefore, conducting the survey is the way to be accurately informed.

If you are a current recipient and your benefits suddenly discontinue beginning the month of August onward, the reason is because of the survey. You must fill out the Questionnaire form again after August onward in order to get your benefits back. Records indicated that there are still quite a few number of beneficiaries who are yet to fill and submit their questionnaires. FSMSSA would like to urge all who had not filed the survey to do so in order for your benefits to flow again.

The Questionnaire form may be obtained from our website, www.fsmssa.fm under the Forms section.


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Social Security Administrators holds a Joint Meeting

Category : Press Releases

A joint meeting between three Social Security Systems took place on December 7th, 2017 in Guam, USA. In attendance were FSMSSA Administrator Alexander R. Narruhn, Republic of Palau Administrator Ulai Teltull, and Administrator for Marshal Islands Social Security Saane K. Aho. FSMSSA programmer Jill Derickson and IT Manager Midion Neth Jr. were also present for important purposes. Hence, the purpose of the joint meeting was to amend on possibilities to share cost on a database system. The Fox-pro being used now at FSMSSA is not being supported by Microsoft, therefore, we look forward to changing our software within the next 3-5 years. With efforts, the FSMSSA is in the process of making proposals for grants to assist with funding. While the process of moving into the new program is pending, the three systems had agreed upon using the same database that Palau Social Security is using due to the fact that they all have the same files in each system’s database. FSMSSA and Marshall Islands Social Security had agreed to use the same program as soon as Palau Social Security finalizes their database. Further discussions are in process to accommodate the needs of the three Social Security Programs, which all look forward to a great success.


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FSMSSA Board of Trustees holds its 4th Regular Meeting

Category : Board News , Press Releases

FSMSSA Board of Trustees 4th regular meeting was held on December 4, 2017 . All board members including Chairman Jack Harris, Vice-Chairman Vincent Tafileluw, member Nakama Sana, member Kohsak Keller and ex-officio Administrator Narruhn were present including two FSMSSA staff, Comptroller Teresita Dayao and IT Manager Midion Neth Jr. The agenda was met as they entertained new business, which was based on Calendar Year 2018 proposed budget and very crucial items which needed discussion. The meeting followed the Board’s usual Agenda. Administrator Narruhn did an update, briefing the history of the system. The FSMSSA is one of the successor systems from the former Trust Territory Social Security System that closed its operation on March 31, 1988. The FSMSSA began its full operation on January 1, 1988. It is financed by employer/employee contributions at a rate of 7.5% each effective January 01, 2013. National, State, Municipal Governments and all private employers incorporated or doing businesses in the FSM are subject to social security tax. Effective January 01, 2018, the quarterly taxable wage will be increased to $8000. It is estimated that an additional tax collection of $143,850 will be generated from the increased quarterly taxable wage. The FSMSSA provides four basic benefits; retirement, disability, surviving spouse and surviving children’s benefits. The average monthly benefit payment for the ten-month period ending October 31, 2017 was $1,723,763 compared to $1,658,065 for CY 2016 or an average of 4% increase. Furthermore, the challenge remains, where every year benefit payments increase, therefore FSMSSA tries its best to make accommodations that would assist the longevity of the program. FSMSSA continues to assume responsibility for the Prior Service Trust Fund to its citizens even with the continuous funding by the US Congress and Department of Interior, and Insular Affairs. Department of Interior approved the funding request presented by PS Administrator Jerry Facey and Administrator Narruhn in May 2016, on behalf of all beneficiaries, for a cost of living allowance for all recipients of the Prior Service Program. The minimum benefit per month was increased from $27 to $50. In addition, Department of Interior also approved an ongoing annual cost of living adjustment of 3%. Funds received under the PSTF for the ten month ending October 31, 2017 amounted to $312,100 while benefits paid for the same period totaled to $227.793. The program awaits two pending bills in place, therefore if passed, the system shall have a sustainable future. An important matter also discussed was based on the planning and construction of a new office, which by now, the lot is in place. Other dreams came upon as, if the new building comes in place, another 5 year planning will be at hand, which is to accommodate a Credit Union within the new HQ office for our beneficiaries and participants. The Credit Union in a sense will benefit both the program and its people. At the offset, the highlights of FSMSSA financial report and Tax report were shared and discussed.


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Position Vacancy Announcement

Location:   FSM Social Security Administration

Yap Branch Office

Opening Date:

 

January 12, 2018

Position:   Office Assistant Closing Date:

 

 January 26, 2018

Salary Range: $4,000.00 to $6,000.00 per annum

(depending upon qualification)

The Federated States of Micronesia Social Security Administration is seeking for a qualified candidate to fill the position of an Office Assistant.  This position reports directly to the State Branch Manager.  Responsibilities for this position include assisting the Branch Manager and other Branch staff in ensuring that the Branch operates effectively, efficiently and competently and provides quality services/good customer relations with all dealing with the Branch, either in person or by electronic communication.

Nature of Work:

  1. Assist in ensuring that the Branch is considered competent and efficient;
  2. Keep the office in a tidy and presentable state at all times;
  3. Carry out any instructions given or tasks allocated in a capable and prompt manner;
  4. Maintain good customer relations at all times, both in person and by telephone and etc.
  5. Carry out filing on a planned and regular basis, such that files can be retrieved easily and quickly at all times;
  6. Ensure typing is error free and done in an efficient and speedy manner;
  7. Issue Social Security numbers only in accordance with standard practices;
  8. Assist as required with claim processing and benefit check distribution;
  9. Ensure that at all times, cash receipts, and any subsequent or related documentation are error free;
  10. Makes sure office supplies are adequately maintained at all times;
  11. Perform other duties as assigned.

Salary

Ranging from $4,000.00 – $6,000.00 per annum (depending on qualifications and experience) with excellent benefits package.

Requirements of Work

Required to act always in an acceptable and pleasant manner with customers and other inquirers, have Word and Excel skills and must be windows-literate and must have a valid driver’s license.

Education & Work Experience Requirements

Position requires at least two years at college, with emphasis on office processes and procedures.

Application Instruction

Any interested candidates should obtain application form at any Social Security Branch Office or Headquarters.  Submit the application or show postmark if mailed, no later than January 26, 2018 along with diplomas and/or transcripts to any of the Social Security Branch Offices or to:

 

Federated States of Micronesia Social Security Administration

P.O. Box L

Kolonia, Pohnpei FM  96941