The Marshall Islands Social Security Administration (MISSA), a component unit of the Republic of Marshall Islands (RMI), was established pursuant to RMI Public Law 1990-75 (the Social Security Act of 1990 or “the Act”), as amended. The law repealed the Social Security Act of 1987 and established MISSA to administer the Marshall Islands Social Security Retirement Fund (The Fund).

The Fund was established to provide a financially sound social security system with pension benefits whereby workers would be ensured a measure of security in their old age and during disability, and whereby surviving spouses and surviving children of deceased workers would be ensured support after the loss of the family’s income.

Additionally, MISSA is responsible for processing, monitoring and distributing benefit claims under the Prior Service Benefits Program. Accordingly, MISSA established the Prior Service Trust Fund (PSTF) to account for activities under this program.

On March 6, 1991, the Nitijela passed Public Law 1991-118 (The Social Security Health Fund Act of 1991), as amended, which directed MISSA to administer the Marshall Islands Social Security Health Fund.

On April 11, 2002, the Nitijela passed Public Law 2002-57 to repeal the Social Security Health Fund Act of 1991 and to transfer the administration of the Health Fund to RMI’s Ministry of Health (MOH). However, the formal turn over did not take effect until December 1, 2002, with MISSA’s Deputy Administrator for Health Fund and its entire Medical Referral Team being absorbed by MOH.

Contributions to the Fund are governed by the Social Security Act of 1990, the last amendment of which was covered by Bill 75 or PL No. 2017-30 effective March 9, 2017 which imposes a tax on the quarterly income of every wage earner equal to eight percent of wages received. The maximum quarterly taxable wages is $10,000. Every employer is required to contribute an amount equal to that contributed by employees.