Category Archives: Press Releases

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FSMSSA Participates in Tax Education and Awareness Month

Category : Press Releases

                                                                                                                                    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

Category : Press Releases

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

Category : Press Releases

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

Category : Board News , Press Releases

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

Category : Board News , Press Releases

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.

 


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FSM Social Security Administration hires new Technical Specialist at Chuuk Branch Office

Category : Press Releases

Beginning of October 2018, Polly Meika was hired as the new Technical Specialist at the FSM Social Security Chuuk Branch Office. He attended COM-FSM beginning year 2015 and attained his Associate of Arts degree in Business Administration in  2017. He continued with the 3rd year program and attained his Third Year Certificate in General Business a year later. Polly was chosen out of the many applicants who applied for his qualifications best suits the requirements of the position. The administration is confident that he would be able to use his knowledge and skills to meet the goals of a Technical Specialist at the branch office. Upon being hired, Polly felt privileged to be serving the people of the FSM. He looked forward to carrying out the job goals and meeting its needs.

Furthermore, Polly likes working with people and could be of great company. His outspoken mind and open handed skills could be of asset to the FSM Social Security Administration. His friendliness will be of great instance as he serves the beneficiaries and people of Chuuk. He enjoys the company of family and friends in his free time.

FSMSSA welcomes Mr. Polly Meika aboard and looks forward to attain support and good deeds that he would contribute to the system.

 


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Introducing FSMSSA Voluntary Contributions through the Automated Clearing House (ACH) Program

The FSM Social Security Administration wishes to invite all interested FSM citizens working abroad to participate in the program. Public Law 14-86, which was passed on October 23, 2006, created a new provision within the social security law that would allow a citizen of the FSM working abroad to voluntarily contribute into the system to earn the right to benefits. FSM citizens who are actually working outside of the FSM, Palau or Marshalls can make voluntary contributions. In order for an abroad citizen to apply for Voluntary Contribution through the ACH, our official website – www.fsmssa.fm has prepared printable forms to (1) enroll in the program, (2) authorize the transactions, and (3) to authorize retroactive payments.  Once these forms are filled and sent to the main office for processing, FSMSSA will collect their quarterly taxes from their account through online ACH. After every transaction, a receipt will be sent to the contributor while the bank documents the transfer in the contributor’s passbook.

For persons who are self-employed or regular employees outside of the FSM, Republic of Palau and Republic of the Marshall Islands, they may make voluntary contributions to receive quarters of coverage and to accumulate payments to their minimum contribution requirements, even if they are contributing to another Social Security system. The person must make payments to FSM SSA in the FSM, and file a quarterly return. Any person making these voluntary contributions is subject to the same deadlines as any other taxpayer. The person must also pay both the employee and employer’s share of the social security tax. The quarterly earnings are fixed at $1,250.00

It applies also to FSM citizens now.

For persons who are self-employed sole proprietors with no employees in the FSM, which can include farmers and fishermen, and who make less than $10,000.00 per year, may make contributions to the Social Security System. The person will be deemed to make $1,250.00 per quarter, and they must pay the employee and the employer’s share. After January 1, 2013, the payment is $93.75 for the employee’s share and $93.75 for the employer’s share, totaling $187.50 per quarter. Any self-employed person electing to make such voluntary contributions must file quarterly returns and is subject to the same deadlines as any other taxpayer. If revenue received by a self-employed person is $10,000.00 or more, they are subject to the regular mandatory contribution provisions.

 


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FSMSSA participates in 8th FSM National Women’s Conference

Category : Press Releases

On August 28, 2018, FSMSSA Deputy Administrator Francky Ilai attended the International Women’s conference held in Pohnpei at the College of Micronesia, FSM- China Friendship gym. Every year this conference was held, and women all over Micronesia come together to attend and learn from each other, as well share ideas and issues needed for awareness. This year’s theme was: “Continue to build and support social development that is inclusive for women across FSM”. The objectives of the conference included providing a platform where women from the four states can come together and engage in discussions on matters/issues affecting them, to have a forum where FSM national and state level stakeholders can harmonize their understanding and status of women’s issues in relation to different policy frameworks at the national, regional and international level and to unify the collective efforts of the country’s response to resolving women’s issues, and to engage the participants of the forum with resource people in different fields to uplift the level of understanding and support for women and girls in FSM. Deputy Administrator Ilai made a presentation that touched on issues relevant to women as stakeholder in Social Security. Generally he shared the history of the program since its establishment, along with its financial status and performances. He further touched on the types of benefits offered and specifics of eligibilities. Part of the presentation was based on taxes paid. Ilai as well shared the challenges the program had been or is faced with, as shown in the diagram below.

After all, questions were then raised for clarifications.

 


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FSMSSA Administrator presents at R&D Conference

Category : Press Releases

FSM Social Security Administrator Alexander R. Narruhn attended the FSM Resources and Development Conference at the Pohnpei State Governor’s Conference Hall on August 15, 2018. It was a nation-wide meeting coordinated by the Department of Resource and Development, involving relevant offices at both national and state levels, with participation from civil society and the private sector, to address issues impeding concerted efforts for social and economic development in the FSM. The objective of the conference emphasized the need to work together for better results.

The purpose of the conference resulted in the need to sharing ideas and agreeing on specific means to contribute toward coordinated implementation of activities to support our overall goals for social and economic development. In line with that, it occurred that presentations were given by different government agencies, both national and state levels, as well as other NGO’s.

The FSMSSA Administrator delivered his presentation on overall operations of the program. He touched on the history of the FSM Social Security and discussed the financial statements, wage earner counts and the history of Social Security taxes. The history of Social Security Program went way back since 1968 with its establishment under Trust Territory times. Fifteen years later after the dissolution of the Trust Territory Times, it then became the FSM Social Security Administration. Its governing body consisted of the Board of Trustees, a representative from each State level, as well a National representative and Administrator as Ex-Officio. There are 6,000 plus beneficiaries today. As a matter of fact, benefits paid out were always higher than tax paid in. Therefore, the FSMSSA tax division with its regulations are ongoing with their collections even with the challenge of the delinquents and so forth.