Northern Mariana Islands
Retirement Fund 
About the Retirement Fund
Purpose
The retirement program was established to provide retirement, disability, death and other benefits for CNMI Government employees, their spouses and dependents, including its autonomous agencies, instrumentality's and public corporations.
The Enabling Act
The Fund was first established by the enactment of Public Law 1-43 on October 1, 1980. Since that time, the statute was amended several times. On May 7, 1989, the Retirement Fund was overhauled when Public Law 6-17 became effective. This law is codified in Title 1, Division 8, Chapter 3 of the Commonwealth Code. This law brought about the establishment of two classes of memberships. Those who were members of the Fund before May 7, 1989 are classified as Class II members. Those who became members on May 7, 1989 and thereafter, are classified as Class I members. The effects and applications of the recently enacted Public Laws are included in the handbook, as follows:
1. P.L. 8-24, Vesting Service Credits for Overtime and Compensatory Time;
2. P.L. 8-30, Thirty Percent (30%) Early Retirement Bonus;
3. P.L. 8-31, New Minimum Benefits, New COLA, Shared Premium for Life Insurance
and Shared Premium for Health Insurance; and,
4. P.L. 8-39, Prior Service Credit for Services Rendered to the Marianas District
Court, National Health Corps and Commission on Federal Laws
5. P.L. 9-25, Allowing Refund of Employer Contributions for TT employees
6. P.L. 9-45, To provide refund of contributions for Class I members
7. P.L. 10-19, Transfer of Group Health and Life Insurance to the NMIRF
8. P.L. 10-88, To give elected officials the right to waive their salary and
instead receive their retirement benefits, and for other purposes.
9. P.L. 11-2, To allow retires to reenter the work force as classroom teachers,
doctors, nurses and other medical professionals without losing their retirement
benefits for a period not to exceed two years.
10. P.L. 11-4, To allow for government re-employment of certain mayoral appointees;
and for other purposes.
11. P.L. 11-9, To require 10 years contributing membership service for retirement
benefits; and for other purposes.
Management Of The Program
A seven member Board of Trustees administers the provisions of the Retirement Fund Act. Members of the Board of Trustees are appointed by the Governor with the advice and consent of the Senate. The Board's composition is as follows:
- Three representing Saipan
- One each from Tinian and Rota
- One from the Carolinian Community
- One representing the Women's Interest
Administrator and Staff
The day to day operation of the program is handled by the staff, headed by the Administrator. The Administrator is appointed by and serves at the pleasure of the Board of Trustees.
External Advisors
The Board retains the services of a legal counsel, an actuary, investment consultant, a fund custodian and several money managers. The services provided by these individuals or firms assist the Board in carrying out its fiduciary responsibilities. Of paramount importance is the Board's duty to protect and safeguard the assets of the Fund so the when a member retires, there is money to pay the benefits promised.
For More Information
If you have read the handbook and you still have questions or need clarifications, feel free to visit or contact the NMI Retirement Fund office nearest you:
Saipan
P.O. Box 1247
Saipan, MP 96950
Tel: (670) 664-3863
Rota
P.O. Box 968
Rota, MP 96951
Tel: (670) 532-9485
Tinian
P.O. Box 267
Tinian, MP 96952
Tel: (670) 433-3863
