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bill47img1 October 07, 2016 4:00 PM, posted
MISSA Reforms Bill No. 47 approved by the Nitijela

After years of constant MISSA appeal for Government intervention, the Nitijela of the Marshall Islands finally made a historic decision to enforce drastic changes to the current Social Security law to save the Retirement Fund from early depletion. 

On September 29, 2016, with 24 yes and 2 no votes by the Nitjela, the Social Security (Amendment) Act 2016 was enacted into law and will take effect starting January 1, 2017. Had the decision of the MISSA reforms been delayed for another year, MISSA would have no other recourse but to withdraw again at least $7.5 million from its investments in FY 2017 to cover its operating deficit and pay on time its almost 4,700 beneficiaries. (read more…)


pix021 May 03, 2016 10:00 PM, posted
Social Security Pension Workshop in Majuro a big success

Modify Bill No. 43 and reintroduce as a new bill; and require by law Government appropriation of at least $6 million every year, beginning FY 2017 through 2026 – These are two extremely urgent appeals that MISSA raised to the RMI President,  Cabinet and Nitijela during the just concluded Social Security Pension Workshop and consultation held in Majuro on April 25-29, 2016. Read more…

 

 

 

 

kajur1 April 25, 2016 2:57 PM, posted
2016 PENSION WORKSHOP

The Pacific Financial Technical Assistance Center (PFTAC), in cooperation with the International Monetary Fund’s (IMF) Expenditure Policy Division and the Bank of the Marshall Islands, will sponsor and facilitate a workshop on April 25-27, 2016 in Majuro to discuss the social security issues and pension challenges facing the Marshall Islands, Federated States of Micronesia and Republic of Palau, and explore optional solutions. READ MORE....

 

 

 


1 January 6, 2016 2:57 PM, posted
ANNOUNCEMENT
This is to inform the public that MISSA has started conducting a beneficiary screening in order to identify beneficiaries who may:

  • no longer qualify for continued benefits as they may have passed away (for all beneficiaries).
  • have remarried (for surviving spouses); have married (for surviving  children).   
  • have found gainful work/employment (for medical retirees).
  • have stopped going to school (for surviving children aged 18 to 22 years).
  • have left the RMI permanently (for non-citizens). READ MORE....

 

KOJELA KOJELA!!

 

kajur

1 October 29, 2014 10:32 AM, posted
IF THERE'S A WILL, THERE'S A WAY!
Pictured: Saeko Shoniber (4th from left), MISSA’s Board Chairperson and KAJUR’s Accounting team look on as Helena Paul, KAJUR’s Chief Accountant, presents to Bernie Lojkar (2nd from left), MISSA’s Ebeye Branch Manager, the last installment payment of $55,046 that completely paid-off KAJUR’s $0.9 million debt to MISSA.

KAJUR is one of the few COMPACT funded agencies whose financial operations significantly improved over the years. Sometime in 2005, the management of Ebeye’s sole power provider was terminated by American Samoa Power Association (ASPA). Consequently, a Cabinet paper was approved that established one common Board to oversee the operations of the three existing utility companies on Majuro and Ebeye, namely - MEC, MWSC and KAJUR.


img51 July 1, 2014 11:32 AM, posted
MISSA celebrates 46th Year Anniversary & 11th Retirees' Day
July 1 of every year since 2004 is being celebrated as the Administration's anniversary date and retirees' Day.

During their meeting on June 24, 2004, then President Kessai Note and his Cabinet approved and delared July 1st of every year as MISSA's anniversary date. It was on July 1, 1968 when the Trust Territory Social Security (TTSSS) was first established. The former President and his Cabinet also approved July 1st as Retirees' Day in honor of all retired and disabled citizens who have served the Marshall Islands in various employment capacities in the Government and Private sectors.

rpts1 May 15, 2014 11:09 AM, posted
MISSA's net assets continue to increase in spite of 1.5 million investment drawdown
The Administration’s offshore and local investments continue to give MISSA the needed lifeline to remain financially healthy in the medium term. As of the latest financial report of MISSA, investment gains for the first half of FY 2014 totaled $4.23 million.
First quarter    $2.62 million
Second quarter    1.61
Total    $4.23 million
The gains have increased MISSA’s net assets to nearly $75 million as of March 31, 2014. This translates to a $0.77 million or 1% increase over the last six months in spite of the $1.5 million drawdown from the Fund in February. (read more)