Officers and Directors
Chairman:            John M. Sablan
Vice Chairman:    William R. Barrineau
Secretary:           Oscar C. Camacho
Treasurer:            Richard Waldo
Directors:            Agnes McPhetres
                          Sapuro Rayphand
                          David M. Sablan
                          Juan I. Tenorio

INDEX

Officer and Director Information

Court Case Info and Documents

AMENDED Damages Judgment

Articles Of Incorporation Annual Corporation Report Non-Profit Charter of Incorporation Bylaws of The CRA

Final order by Judge Govendo on the case which was heard on May 3, 2010.  We recently posted the "Draft version" as PROPOSED. The attached is final. There are changes in the final version.

Exerpt from CA-06-0367

Lettter from Chairman Sablan to Chairman Basa re: Pension Obligation Bond

CNMI Senate Bill No: 17-27 to temporarily suspend 1CMC Section 8342.  CRA Board of Directors are strongly apposing the Bill in that it will definitely accelerate the demise of the RETIREMENT FUND.

Letter from Vice Chairman, Ron Barrinea registering our opposition to the Senate Bill 17-27.

Voting Mechanism for CRA members:  those interested must first register with CRA by e mail, regular mail, telephone, or personal visit. Such duly registered individuals would each be assigned a confidential number which would identify them as a legitimate voting retiree or active member of the Defined Benefit Plan.  This number would serve as a check for a single vote. Votes would be cast and tallied by number and not by individual name. Retirees and active members would retain the same confidential number for use on all subsequent ballots. A specific time is to be established for exercising one’s voting privilege after which upon expiration of the allotted time voting would be closed and the votes tallied.  The issue(s) to be voted upon be either a “Yes” or “No” with each issue expressed on a ballot  followed by the question: “Do you support the above for an official position of CRA?” Answer: “Yes” or “No.” Please indicate your assigned  identification number. Ballots cast without the identification number will not be counted. If you do not have a number assigned to you contact any of the CRA Directors.

. CRA Board of Directors have taken the following positions in their regular meetings but have not posed the questions to the General Members; CRA Board of Directors is asking the members to vote on the issues by using their assigned CRA ID numbers. The instructions are on the website and if members do not have email accounts they can send in their votes via regular mail to any CRA Board member.

• HB16- 254 called  to have a CRA director sit on the Board of Trustees of the retirement fund but association must have 1,000 members. CRA Board of Directors supported this proposed legislation but failed to register 1,000 members. The Bill was vetoed by the Governor but the CRA Board of Directors continue to register and increase members in the association and continues to support the idea of a CRA director to sit on the Board of Trustees of the retirement fund. Qeustion: YES or NO, Do you support position to have a CRA board of director sit on and be a Trustee on the Board of Trustees of the Retirement Fund?

• The Bruce Jorgensen Suit in the Federal District Court. The CRA Board of Directors refused to support the suit in the federal court because it was not clear to CRA Board what the receivership objective entails. However, CRA board of directors took to heart the recommendation by Judge Munsion for retirees to intervene in the CNMI court lawsuit. CRA board of directors intervened. The suit continues in federal court and we have no information other than bits and pieces revealed to us in the media. Members appear to be split on this issue and a recent media clip seems to impress that "conserving" rather than receivership to wind down is the approach being sought. YES or NO, do you support the Jorgensen Suit in Federal District Court? YES or NO, Do you support CRA Board of Directors Intervention in the CNMI Court?

• A certain individual applied to receive pension he believed he was entitled to under a certain law that allowed persons who served as board members of CNMI boards and commissions for 10 years or more prior to 2003 even though there was not a penny contributed by either appointing authority or board or person who served on board. The Fund allowed applicant to receive pension since applicant according to law had earned it despite noncontribution. The CRA Board of Directors disagrees with the Fund's position and continues to take on the position that should any other persons apply for same that Fund should deny simply because there was none contibuted to pay for such annuity. YES or NO, Do you agree with the CRA Board position?

• PSS to allows retirees to take advantage of a program permitting retirees to be substitute teachers. CRA Board of Directors supported wholeheartedly the opportunity given retirees to enlist or enroll themselves with PSS to be on call subsititue teachers. YES or NO, Do you support CRA's position?

• Five Point Plan as promoted by the government and the Fund. The CRA Board of Directors agrees with the first three (3) of the Five Points but rejects the last two. The Five Point Plan was presented to both houses of the legislature and to the CNMI Superior Court. CRA Board of Directors made it known to the Legislature what they support and what they do not; but had not the opportunity to state so before Judge Govendo. The Five Points are: 1. Pension Obligation Bond to pay into the FUND what is owed; 2. A dollar figure to be appropriated as payment into the Fund rather than employer contribution rate; 3. to support various legislations taht sought to improve the financial condition of the Fund; 4. Freezing Accrued Benefits so as to limit future pension benefits for active employees; 5. Phasing out of the Defined Benefit Plan rather than the original goal of having the Fund "Fully Funded". YES or NO, Do you support CRA's position on the Five Point Plan? YES or NO, Do you support the Five Point Plan?

• Mario Taitano's suit against Merryl Lynch. Mario beleives Merryl Lynch ill advised the Board of Trustees on investment decisions. CRA supported suit against ML. YES or NO, Do you support CRA's position? 

 

Your CRA Chairman announces that our Annual General Membership Meeting will be held on Thursday, September 23, 2010 at 6:00 O'Clock p.m., at the Multi-Purpose Center in Susupe, Saipan. We expect the meeting will last for two hours.  We urge all of you on Saipan to attend this all-important meeting.  The Agenda will include the following: Guest Speaker Mr. Donald Barcinas to explain the life policy covering retirees; Tina Sablan to speak on the Suit in Federal Court; NMIRF Administrator/Trustees on the 5-Point Plan spefically on the Pension Obligation Bond; Suggestion to invite U.S. Congressional Cadidates to meet with the retirees; Votes on the CRA Board Actions and Positions; Discuss how we should continue the improvements to our website; Annual Membership Dues proposal of $5.00 to defray communications costs; House Bill 17-97 to accord a member of CRA one seat on the Board of Trustees; Introduction of new Directors We have tentatively reserved the Multi Purpose Center on October 12 at 6:00 p.m., as the date for the delegate presentation but this will have to be confirmed by all candidates. PLEASE BE SURE TO ATTEND THE ANNUAL MEETING !!  Thank You... CRA Board of Directors