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”

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.

 

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.

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.

FSM Social Security recognizes all who had put in the effort to this success especially, with the help of the FSM National Government through a letter of funding request to the Assistant Secretary of the Interior for Insular Affairs, Mr. Douglas W. Domenech.

Through enthusiasm and support from the national government, PSTF funding remains a benefit to our beneficiaries.

FSMSSA Prior Service receives Technical Assistance Grant

          On March 10, 2017, Acting Assistant Secretary of the Interior for Insular Areas, Nikolao Pula of Washington DC approved three technical assistance grants totaling over $1.7 million. According to Acting Secretary Pula, these funds demonstrate support for commitments and important programs which continue to benefit people in the U.S. territories and the Freely Associated States. Pula further shared that the Department of Interior for Insular Areas continues to work closely with the governors of the U.S territories and the presidents of the Free Associated States (FAS) to make sure that U.S. taxpayer dollars are used correctly and in the Nation’s best interest.

FSM Social Security Prior Service Trust Fund Administration (PSTFA) received the first technical assistance grant in the amount of $865,800. This grant continues funding employee benefits under the terms of the Prior Service Trust Fund, a responsibility assumed by the Federal Government following the dissolution of the Trust Territory of the Pacific Islands (TTPI). The program allows the Free Associated States governments and the Commonwealth of the Northern Mariana Islands pay the benefits to former TTPI employees plus cover PSTFA expenses.

The FSM Social Security Administration is always thankful to the U.S. Department of Interior for its continuous support in contributing to the Prior Service Trust Fund Administration, a grant that contributes more assistance to the TTPI employees in the program.