Prior Service Trust Fund Meeting

The FSM Social Security Administrator, Alexander R. Narruhn and the Pohnpei State Lt. Governor Jack E. Yakana who is also the Representative of Pohnpei State on the FSMSS Board of Trustees, represented the FSMSSA in the Prior Service Trust Fund Board Meeting that took place on March 27, 2004 in Guam.
Besides the representatives of the FSM, the meeting was attended by the Chairman of the Marshall Islands Social Security Board, Jack M. Niedenthal; the Chairman of the Palau Social Security Board, Marino Bells; the CNMI Board member, Joe Reyes; the Republic of the Marshall Islands Social Security Administrator, Saane Aho; the Republic of Palau Social

Security Administrator, Greg Ngirmang; the Washington D.C. lobbyist for the Prior Service Program, Frank X. Solomon; the Washington Representative, Pete A. Tenorio; and the Prior Service Administrator, Jerold M. Facey.
It is the board’s practice that the chairmanship is alternated between the participating nations on a yearly basis. During the meeting, the board approved that the chairmanship was given to the Marshall Islands while the vice-chairmanship was given to the FSM. Therefore, Jack Niedenthal became the chairman and Lt. Governor Jack Yakana became the vice-chairman.
The meeting saw the Prior Service Program again lobbying for much needed additional funding. In a letter written to the Secretary of the United States Department of Interior, Gale Norton, the top four officials of the FSM, CNMI, ROP, and RMI made a combined request for the assistance of the Department of the Interior with the diminishing funding of the Prior Service Program. In this letter, dated October 20, 2003, the four leaders expressed the dilemma that faces the beneficiaries of the program in which they were receiving only fifty percent of their benefits. The leaders asked the Federal Government to hasten their steps in finding a long term funding solution.
Jerry Facey, the Administrator of the Prior Service Program, has been constantly lobbying for a long term funding for the program. Otherwise, the “dilemma” facing the beneficiaries would only worsen and will result in the total collapse of the program.
In other areas of the meeting, the board approved the proposed budget for fiscal year 2005. The budget was placed at $306,729.00.
The board extended Jerry Facey’s contract to another two years. Furthermore, the board gave the discretion to Mr. Facey to make benefit payments owed to the beneficiaries if additional funding is available.

Posted on 04/12/04.

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