FOR IMMEDIATE RELEASE
TAMUNING, GUAM – May 6, 2026 — The Board of Trustees of the Federated States of Micronesia (FSM) Social Security Administration successfully concluded its 2nd Regular Meeting of Calendar Year 2026, held May 4–6 in Tamuning, Guam. The three-day session encompassed strategic investment decisions, administrative updates, legislative recommendations, and a public forum for FSM citizens living in Guam.
Key Actions & Meeting Highlights
- Investment Portfolio Growth: Consultants from Raymond James reported that the fund’s total value rebounded to $67,978,932 as of May 1, 2026, marking a 6.48% recovery following Q1 market fluctuations.
- Portfolio Restructuring: Following presentations and interviews, the Board approved significant investment adjustments to optimize performance:
- U.S. Large Cap Value: Unanimously voted to terminate Aristotle Capital Management and appoint Putnam Investments as the new portfolio manager.
- U.S. Large Cap Growth: Unanimously voted to terminate Winslow Capital Management and index these funds through the Vanguard Russell 1000 Growth ETF.
- Proposed Statutory Amendment: The Board unanimously approved a motion to recommend a congressional amendment allowing board members to continue serving past their three-year terms until reconfirmed or replaced, preventing quorum disruptions.
- IT Division Expansion: Approved the creation of a second Data Entry Operator position at HQ to manage increasing administrative workloads.
- Public Engagement: On May 5, the Board and executive leadership hosted a public forum at the FSM Consulate in Guam to address citizen concerns and answer questions regarding the system.
Board Leadership & Governance
The meeting was chaired by Pohnpei Representative Jack Harris, alongside Board Trustees Ari Skilling (National Government), Jason Poll (Chuuk), and Nena Ned (Kosrae). Executive management was represented by Administrator Leon Panuelo, Jr. and Deputy Administrator Francky Ilai.
The Board of Trustees is scheduled to convene for its 3rd Regular Meeting in Pohnpei in July 2026.
About the FSM Social Security Administration
The FSM Social Security Administration provides retirement, disability, and survivor benefits to the workforce and citizens of the Federated States of Micronesia, ensuring long-term financial security across all states.
You can find us on the web at www.fm/fsmss. Or you can e-mail us at info@fsmssa.fm or fsmssa@mail.fm