Author: Priana Andreas

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FSMSSA Pohnpei participates in Women’s Day 2019

FSMSSA was invited to do presentations at the 2019 Women’s Day Conference on March 7, 2019 at the State Governor’s conference Room, whereas, Pohnpei Branch Manager Leon Panuelo Jr. and Assistant Manager Trueleen J. Albert were present. An overall presentation of the program was given, consisting, the history and objective of the program, financial statuses, Benefit types and specifically the types of benefits and procedures to applying and all regulations in line to uphold the informative part that people needed to know and understand. After the informative presentation, the crowd raised tons of questions mostly regards to Benefit Claims and Tax Paying. To their surprises, many had just learned new information the public were never aware of. the productivity of the day rested in the hands of all the women who happened to be there for they were intended to push out their complains and comments. All were accepted by FSMSSA team, looking forward to a down drop of questions in the future. That concluded the presentation and requests were made for future awareness always.

 

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United States Department of Interior gives grant to Social Security Programs

The Prior Service Trust Fund (PSTF) is a supplemental retirement, disability and survivors’ plan established pursuant to Section 105(m) of U.S Public Law 99-239. It was established to continue to provide benefits to those who worked for the U.S. Navy Administration or the Government of the Trust Territory of the Pacific Islands for at least five years prior to July 1, 1968. In 1987, the United States Congress provided $8 million for initial capitalization of the PSBTF. The United States Government continues to meet its commitment and financial support to beneficiaries. These Prior Service beneficiaries are retirees and survivors who rely on monthly payments ranging from $54.00 to over $150.00 to pay for medicine, food, kerosene and other basic needs.

Effective April 1, 2006, the Federated States of Micronesia Social Security Administration assumed responsibility for benefit payments made to citizens of the Federated States of Micronesia. Beneficiaries of PSTF total about one thousand and lived in the Northern Mariana Islands, Republic of Palau, Federated States of Micronesia and Marshall Islands. FSM has a total of 450 beneficiaries who are currently receiving Prior Service Benefits.

In May 2016, the United States Department of Interior, Office of Insular Affairs (OIA), awarded additional money to the Prior Service Trust Fund Administration (PSTF) to enact and fully fund an increased cost of living adjustment (COLA) for all existing PSTF beneficiaries. It was an addition to the annual funds being received from OIA to maintain existing payments to PSTF beneficiaries.

In March 2018, the Prior Service Trust Fund (PSTF) was awarded funding through the office of Insular Affairs’ (OIA) Technical Assistance Program. A grant was awarded to fund Prior Service benefit payments to beneficiaries in the Commonwealth of the Northern Mariana Islands, the Federated States of Micronesia, the Republic of the Marshall Islands and the Republic of Palau. The grant included a partial funding award of $460,900 for PSTF benefit payments, will be available for the first six months of the next fiscal year. Additional funding will be awarded after OIA has received full appropriations for Fiscal Year 2018.

In April 2019, the Prior Service Board of Directors and staff wished to announce that the U.S Interior Assistant Secretary of Insular and Internal Affairs, Douglas W. Domenech has authorized the payment of $853,590 in FY 2019 Technical Assistance Funding for the Prior Service Trust Fund.

The Prior Service Trust Fund Board and Social Security Administrations take this opportunity to express their appreciation to Assistant Secretary Domenech and staff for providing this valuable assistance to families across Micronesia and beyond.

 

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FSMSSA Board of Trustees meets for 1st special 2019

FSMSSA Board of Trustees had its 1st Special Meeting on February 14, 2019. In attendance were all members including Chairman Harris, Vice Chairman Tafileluw, members Sana, Ned and Falcam along with ex-officio member Administrator Narruhn and Deputy Administrator Ilai. There was quorum so the meeting carried on with its Agenda. A major part of the meeting was the 2019 Investment Review, which also took place. A presentation was given by FSMSSA’s Consultant Daniel Roland, focused on the system’s portfolio performance, Investment Policy Statement (IPS) percent reduction and performances of money managers. Another presentation was on the Experience Study and Actuarial Valuation and was given by Brent A. Banister from the Actuarial Study Group. Details were to be put into report. Moreover, the board had heard and gained information needed from such crucial presentations and were now clear on where FSMSSA is heading in such areas, therefore had passed changes to Investment Policy Statement. The Board’s agenda carried on as usual, briefings and comments were made. Administrator Narruhn further discussed specific issues including money managers put on watch as well as the Valuation and Actuarial Experience study hoping for the support of FSM Congress to pending bill. Narruhn shared the ongoing projects for FSMSSA to be able to use the laser printer and software upgrade. He then discussed ongoing issue of the need to do electronic payment whereas abroad beneficiaries were being encouraged to switch to bank accounts. Lastly, as always, FSMSSA’s Financial Statement and Tax Reports were shared with the Board of Trustees to be reviewed and do communication with comments if there may be.

The need for the special meeting had been met and meeting was adjourned.

 

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Beneficiaries to make Changes in Addresses

FSMSSA wishes to extend this announcement to all beneficiaries receiving benefits from the Social Security Program. Due to security reasons, the FSM Social Security Administration will be discontinuing the mailing of physical checks to overseas locations beginning April 2019. Therefore, beneficiaries residing outside of FSM must have a valid bank account to be used for benefit remittances. The program sincerely encourage ALL beneficiaries abroad and on the islands to abide with this recommendation in order to support security improvements. It must be a question raised to why the sudden change, yet due to incidents occurring with lost checks and more than that, FSMSSA intends to verify that the safest procedure is through bank direct deposits. This could also support the less use of paper for printed checks to thousands of beneficiaries. Moreover, the process is that you must have an active Savings or Checking Account. FSMSSA need your account information for confirmation then you could make the change. In doing so, our form had been sent out to all beneficiaries, it is as well posted on our website; www.fsmssa.fm. Please be informed that Joints accounts are applicable to only you and your spouse. On island beneficiaries are highly recommended to have accounts as much as possible. This change would really assist with systems expenses on its operations and a guaranteed timely payout to all beneficiaries and would highly shorten issues with physical checks. For further questions and comments, please contact us through e-mail or phone. Thank you.

 

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In Loving Memory of John Steele Vanderburgh

 

“Jenni” Vanderburgh and Family are saddened to announce the sudden passing of their beloved husband, father, grandfather, brother, and friend on Thursday March 14, 2019. John served our country in the U.S. Army followed by deciding his life to improving quality disability decisions on Guam, the Pacific and the San Francisco Region. A faithful and highly respected public servant with over 40+ years working for the Social Security Administration in numerous capacities: Claims Representative, Program Coordinator, Operations Supervisor, Team Leader, District Manager, Advocate, Mentor, Examiner and a Medical Professional Relations Officer. John also served the FSM as an Adjudicator. John’s passions in life were the love of his family, reading, writing, mentoring, golfing and communicating effectively. Throughout his life, John was known for his acts of kindness for family, co-workers, stakeholders, friends and strangers.

 

 

 

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FSMSSA Participates in Tax Education and Awareness Month

                                                                                                                                    Throughout the month of October 2018, three offices, including FSM Division of Customs and Tax, Pohnpei State Tax & Revenue, and FSM Social Security Administration were united in providing tax awareness to the public of Pohnpei State. The objective was to inform the public especially business owners and all about tax matters now and then. Each team presented their parts, how tax is collected and further shared the processes of how to file and the documents needed. It was a very informative educational awareness providing all the information the public lacks knowledge about. The awareness was conducted in municipalities around the island, and a number of people showed up at each places, which was a plus for them due to the clarification and very informative presentations there were. The unison of the three offices were a benefit to both the public and the offices themselves for they had the chance to attain ideas from the business people. It was worthwhile because the business world did need the information provided.

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FSMSSA Administrator presents at Pohnpei Municipal Council Summit 2018

On the 19th of October, FSMSSA Administrator Alexander R. Narruhn along with Deputy Administrator Francky Ilai stepped grounds at Pohnlangas, Madolenihmw for a presentation to the Pohnpei Municipal Council Association. The presentation was an overall focus of the FSM Social Security Program, specifying the objectives of the system, claim processing on the types of benefits offered, tax rate and collection comparisons and its financial statements as of date. Upon being informed of the information needed, the crowd did bring out concerns, questions and advises they had. The exchange of information and ideas were productive as everyone attained what they needed to hear in a long time, about the Social Security program. Administrator further shared the challenges the program had been faced with and the purposes of amendments which all ended up as in the productivity and sustainability of the FSM Social Security Program.

 

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New hires & promotions

Ms. Jena Victus of Chuuk began another of her work experiences with the FSM Social Security as the Investigation Officer in November 2018. The Investigation Officer plays an important role in the program as in carrying out specific tasks concerning Investigations which had been an arising need in social security terms. The program looks forward to seeing Jena assist in any way she could with ongoing and future investigations. Ms. Victus is confident to perform to the best of her abilities and believes to be gaining more as well as she gives. Jena felt happy and blessed upon being hired. Welcome Aboard.

FSMSSA Chuuk Branch welcomed Ms. Imoreen Mori in November 2018 as she was selected to be the Technical Specialist. The Technical Specialist at the branch office provides assistance in terms to tax collection, claim processing, data collection, tracking delinquencies, conducting employer audits, analyzing payment agreements and other duties required in the field. With her educational background and work experiences, Imoreen will be able to carry out the job goals in this field. She looks forward to enhancing and protecting organization’s value by doing the best she could possibly be. Upon being hired, she felt blessed and thankful. It would be a great opportunity for her to practice her expertise with her career.  Welcome Aboard.

Ms. Harriette Harris of Pohnpei is now the Technical Specialist at the FSMSSA-Pohnpei Branch office. Over a year ago, she was on contractual services at HQ office where she assisted with the IT division with their filing and other data inputting process. Her exemplary performance over the course of  her work was satisfying and her abilities were needed in another field. Her interests led her to a career more challenging as she joined the Pohnpei Team to be serving beneficiaries of the FSM. Ms. Harris feels happy and thankful for this new challenge would be of more benefits to herself and as she looks forward to try her best in her duties, it would benefit the program and its constituents. Welcome Aboard.

Mrs. Liana B. Nakayama was promoted to being the Assistant Manager of FSMSSA Chuuk Branch Office in November 2018, after 10 years of service to the program as the Technical Specialist. With her years of experience and educational background she was selected by FSMSSA Admin as eligible to carry out the goals of the Assistant Manager. The Assistant acts in place along with duties as in assisting with Tax collection as well claim processing. With the job’s specific goals, the program fully support and hopes to ensure that she will still be an asset to the program. Mrs. Nakayama felt really privileged and happy to be selected and looks forward to carrying out the best she could with her goals. Good Luck to all.

 

 

 

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FSMSSA Board of Trustees meets for their 3rd regular

FSMSSA Board of Trustees had its 3rd regular meeting on December 3, 2018. All board members were present as well as Administrator and Deputy Administrator. It became common that every quarter, the Board meets to share updates, reports and exchange advices pertaining social security’s sustainability. It is another chance for FSMSSA Admin to update the Board of Trustees on matters or new information there may be. In return as the governing body of the program, the Board makes fair decisions for a better program. In line with the updates from Admin, Administrator Narruhn spoke of recent communications as of date. Narruhn further discussed some items in his communication, which included the progress of the lot, or office space to be provided by Pohnpei State Governor. Administrator had assisted with documents needed and asked the board to support the idea in communicating with the State Government. Narruhn assured the Board that the experience study had been finalized, and valuation first draft completed awaiting for more detail in a later meeting. Administrator shared the status of the amendments introduced with Congress last session. A major part of this regular meeting was about the FSMSSA 2019 Proposed Budget.  Public Law 5-120 mandates FSMSSA to present an annual budget not exceeding 11% of projected income for the ensuing fiscal year. Administration prepared budget comparisons of CY 2018 vs. CY 2019 and presented to the Board, which was thoroughly explained in details that the Board came in meets in the end by approving the FSMSSA Proposed Budget CY 2019. The percentage of Proposed Budget was 6.9% of income projection. The Budget Ceiling of 11%, with total proposed budget of $1,311,974, a decrease of 1.0% from 2018 approved budget. The meeting continued with FSMSSA’s Financial Statement and Tax reports. The Board of Trustees were well informed that with their queries being answered, and called off a productive meeting.

 

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FSMSSA Board of Trustees & Admin attends APAFS 2018

The FSMSSA Board of Trustees and Administrator attended the 18th Annual Pacific Region Investment Conference, envisioned to be the premier investment conference in the region. Through this medium, Asia Pacific Association for Fiduciary Studies (APAFS™) , provided members with meaningful educational forums that cover the most current and fundamental understanding of their roles as fiduciaries, focusing on regional specific issues and needs. 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 the governing body of the FSMSS program, it had become tradition that the Board of Trustees and Administrator attend such conferences for positive and enhancing purposes in chances that kept accountable for the program’s sustainability. In attendance were Chairman of the Board Jack Harris of Pohnpei, Vice Chairman Vincent Tafileluw of Yap, member Albert Falcam-National Government representative, Chuuk representative, member Nakama Sana, and member Nena C. Ned representing Kosrae State. Along with the Board was Administrator Alexander R. Narruhn. With the information attained and knowledge gained from these conferences, FSMSSA continues to trusting in the hands of its Administration for the successes of the program through daily work of all Board members and Administration.