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Senate Fiscal Affairs Committee Hears Support, Amendment Requests for Senate Bill 24-01 Pension Plan
Summary
At a Feb. 25 hearing in Tatatsuk Bluta, a Department of Finance director urged approval of Senate Bill 24-01 creating a CNMI term pension plan while asking the committee to lower the proposed retirement age to 65 and allow service buybacks for long-serving employees; committee members directed staff to gather more fiscal data before further action.
The Senate Fiscal Affairs Committee heard public comment on Feb. 25 on Senate Bill 24-01, a proposal to create a CNMI term pension plan, during a public hearing at the Mayor's Office Conference Room in Tatatsuk Bluta.
Avery, who identified herself "for the record" as a resident and the department head for the Department of Finance on Rhoda, said she supports the bill but urged the committee to make several changes to protect long-serving employees. "I want to advocate for my staff who are who direly needs a retirement plan to happen for them," Avery said, asking the committee to consider lowering the retirement age in the bill from 70 to 65 and to include a service-buyback…
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