Category: Press Releases

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FSM Social Security Administration Releases FY2024 Audited Financial Statements

Federated States of Micronesia Social Security Administration

PRESS RELEASE

P.O. Box L

Kolonia, Pohnpei FM 96941

Tel: (691) 320-2706/2708/4407

Fax: (691) 320-2607

The FSM Social Security Administration, in servicing the island nation’s citizens, holds public awareness of the program and its affairs a priority.

FOR IMMEDIATE RELEASE

FSM Social Security Administration Achieves Clean 2024 Audit with Strong Investment Gains and Zero Compliance Issues

KOLONIA, Pohnpei— The Federated States of Micronesia Social Security Administration (FSMSSA) has officially published its audited financial statements for the fiscal years ended December 31, 2024 and 2023. The independent audit, conducted by Ernst & Young LLP, granted the Administration a completely unmodified (“clean”) opinion.

Significantly, the independent auditors identified zero material weaknesses in FSMSSA’s internal controls over financial reporting and zero instances of noncompliance with government laws or regulations.

Key highlights from the 2024 fiscal period include:

  • Fund Growth: The Retirement Fund net position increased by 10.2%, rising to $62.3 million from $56.5 million the previous year.
  • Robust Investment Returns: The Administration’s investment portfolio recorded an impressive 10.5% return, generating $5.4 million in net investment income.
  • Increased Collections & Compliance: Total contribution collections grew by 13.4% to $26.3 million, bolstered by government wage adjustments and an aggressive recovery of $800,000 from delinquent tax accounts.
  • Fiscal Responsibility: Strict monitoring of administrative operations resulted in a 6% budget surplus for the year.

“These audit results underscore our team’s commitment to fiscal responsibility, transparency, and the stable management of the funds entrusted to us by the citizens of the FSM,” said the Administrator Leon Panuelo, Jr.. “While we continue to monitor long-term sustainability challenges, these milestones provide a secure foundation moving forward.”

The full financial report, including Management’s Discussion and Analysis (MD&A), is open to the public and can be viewed directly on the official FSMSSA website.

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

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WELCOMING NEW FSMSSA STAFF MEMBERS

Federated States of Micronesia Social Security Administration

PRESS RELEASE

FOR IMMEDIATE RELEASE

FSM Social Security Administration Welcomes Three New Staff Members to Advance Public Service Excellence

POHNPEI, Federated States of Micronesia — July 15, 2026 — The Federated States of Micronesia Social Security Administration (FSMSSA) is proud to officially announce the appointment of three new professionals to its growing team. These strategic hires reinforce FSMSSA’s commitment to improving service delivery, safeguarding public funds, and ensuring the long-term social security benefits of all working citizens and retirees across the four states.

The new team members bring a diverse range of skills and a shared dedication to public service.

Introducing the New Team Members:

1.Lizzyann Rosario – Public Information Officer

Lizzy Ann Rosario officially joined the FSM Social Security Administration on June 29, 2026, stepping into the vital role of Public Information Officer. Outside of her professional dedication to public communication, Ms. Rosario is deeply family-oriented and enjoys spending quality time bonding with her family. In her new capacity, she will be leading the agency’s efforts to keep the public informed and connected.

“I wanted to work at the FSMSSA because I would love to help our people of Micronesia. I am looking forward to learning more about what the FSMSSA does for the citizens of Micronesia and what I, as a Public Information Officer, can do for them. Your hard work builds the future of the FSM, and your Social Security Administration is dedicated to protecting your future and your family’s peace of mind!” said Ms. Rosario.

2. Riesha Shianne Wilson – Data Entry Operator

Also joining the FSMSSA team on June 29, 2026, Riesha Shianne Wilson steps into the role of Data Entry Operator. Ms. Wilson has a strong passion for managing information with high precision and is deeply grateful for the continuous encouragement and support of her family. In her spare time, she enjoys listening to music and relaxing with friends.

“I wanted to come work here because I enjoy working with information, paying close attention to detail, and contributing to an organization that provides important services to the people of the FSM. I am looking forward to learning more about the social security system, growing professionally, and contributing to the team by ensuring accurate and efficient data entry. I am honored to be part of the Social Security Administration and am committed to providing accurate, efficient, and courteous service to our citizens,” stated Ms. Wilson.

3. Jenilee Actouka – Collection Clerk

Jenilee Actouka joined the FSMSSA team on July 13, 2026, as the agency’s new Collection Clerk. Married to Augustine (Randel) Ardos and a proud mother of three beautiful girls—Raemielle, Vivica Rae, and Ayumi Rose—Mrs. Actouka successfully balances a warm family life with her passion for public service. As a creative fun fact, she enjoys sewing custom Pohnpeian skirts crafted in Seinwar by jenActouka. In her new role, she is most excited to learn, grow, and meaningfully contribute to the administration’s core operations.

“I wanted to work for the Social Security Administration because I want to be a part of a team that serves as a positive impact on the people of the FSM. As we look ahead, I want to leave the citizens with a powerful quote by Martin Luther King Jr.: ‘We may have all come on different ships, but we’re in the same boat now,’” shared Mrs. Actouka.

About FSM Social Security Administration:

Established to provide financial security and peace of mind to the citizens of the Federated States of Micronesia, the FSMSSA administers retirement, disability, and survivor benefits for the nation’s workforce and their dependents. For more information regarding monthly benefit schedules, registration, or branch locations, please visit the official website at www.fsmssa.fm.

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

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FSMSSA Modernizing for Better Service!

The Federated States of Micronesia Social Security Administration (FSMSSA) is taking a major step forward in improving services for our beneficiaries and the public!

FSMSSA is working to acquire a new database system—based on the Microsoft SQL platform and modeled after the one used by Palau Social Security—that will modernize how we operate across all FSM states.

What this means:

  • Faster, more reliable data sharing between HQ and branch offices
  • Easier and more flexible report generation for staff

This upgrade will strengthen FSMSSA’s ability to serve the people efficiently and securely, keeping pace with modern technology to better meet your needs.

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FSM Social Security Administration to Hold Biennial Conference in Chuuk from August 25-29, 2025

Kolonia, Pohnpei – July 15, 2025 – The Federated States of Micronesia Social Security Administration (FSMSSA) will hold its Biennial Conference in Weno, Chuuk State from August 25 to 29, 2025. This event brings together staff from all branches to assess performance, identify key areas for improvement, and strengthen service delivery across the nation.

Please read the entirety of the Press Release for FSMSSA’s closing and re-opening of services schedule. Equally important is the early release of benefits for the month of August – which begins on August 11, 2025.

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FSMSSA to Postponement of 2025 Biennial Conference

The Federated States of Micronesia Social Security Administration (FSMSSA) announces the postponement of its 2025 Biennial Conference, originally scheduled for April 21st to April 25th, 2025. The conference will now take place from August 11th to August 15th, 2025. This decision comes in response to certain unforeseen circumstances.

FSMSSA prioritizes the safety and well-being of all conference attendees and believes that rescheduling the event to a later date will provide a more stable and productive setting for discussions and collaboration.

Despite this postponement, FSMSSA will maintain its previously announced office closures on April 17th (Holy Thursday) and April 18th (Good Friday) in observance of these religious holidays.

Further details on the rescheduled conference, including venue and agenda updates, will be provided in the coming weeks. We appreciate the understanding and cooperation of all participants and stakeholders.

Press Release on Postponement of FSMSSA Biennial Conference
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FSMSSA’s Biennial Conference Set for April 2025 in Chuuk

The Federated States of Micronesia Social Security Administration (FSMSSA) is pleased to announce its upcoming biennial conference, scheduled to take place in the State of Chuuk from April 21 to April 25, 2025. This essential gathering serves as a platform for FSMSSA leadership and staff to evaluate organizational performance, review policies, and explore opportunities for improving service delivery to the people of the Federated States of Micronesia.

The FSM Social Security Administration headquarters and all branch offices, will be closed from the 17th to the 25th of April. The headquarters and branch offices will re-open to the public on the 28th of April; with the exception of Kosrae branch office. Kindly refer to the Press Release below.

Lastly, distribution schedule of monthly benefits for April 2025 will remain at the end of the month.

Press Release on Temporary Closure (a month’s advance notice).
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FSM Social Security Board of Trustee Chairman Sworn-in for Another Term

Palikir – Federated States of Micronesia – The Federated States of Micronesia (FSM) Social Security Administration proudly announces the swearing-in of Mr. Jack S. Harris on the FSM Social Security Board of Trustees for another term. Chairman Harris has demonstrated remarkable leadership and unwavering commitment to ensuring the financial stability and sustainability of FSM’s social security system, and we are honored to have him continue to serve in this crucial role.

The FSM Social Security Administration extends its deepest gratitude to His Excellency, President Simina, for his continued trust and leadership in re-appointing Chairman Harris. This reappointment reflects President Simina’s recognition of the importance of continuity, experience, and dedication in overseeing the nation’s social security fund, which is essential to the well-being of our citizens.

We would also like to express our sincere appreciation to the 23rd Congress of the Federated States of Micronesia for their confirmation of Chairman Harris for another term on the Board of Trustees. The Congress’s endorsement underscores the confidence the nation has in Chairman Harris’s leadership and vision.

Chairman Harris’s reappointment comes at a critical time, as the FSM Social Security Administration continues its work to provide financial security for our retirees, disabled, and survivors. His extensive experience and proven track record of strategic guidance will be invaluable as we navigate the challenges and opportunities ahead.

On behalf of the FSM Social Security Administration, we congratulate Chairman Jack S. Harris on this well-deserved reappointment and look forward to his continued leadership in serving the best interests of the people of the Federated States of Micronesia.