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Precinct 3 candidate proposes new NMI retirement system

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VICENTE Castro Camacho, who is one of the Democratic Party’s Precinct 3 House candidates, is advocating for a new CNMI retirement system which he said is “absolutely doable.”

He said it will not happen overnight but “it is a must and a need to establish a new system for the next generation.”

 He added, “Only the retirees understand and know what it feels to wonder if they will get their pension every month.”

He said “the retirees are not enjoying the fruits of their labor,” and that a new retirement system is “crucial to the well-being of the workforce.”

In 2009, retiree Betty Johnson sued the CNMI government for its failure to pay the amounts that it was required by law to pay to the Retirement Fund since 2005.

Johnson said the Fund would run out of money by June 2014 and would no longer be able to pay retirement benefits.

In Sept. 2013, the parties agreed to settle the lawsuit and the federal court approved a $779 million consent judgment in case the CNMI government does not meet its obligations to the Settlement Fund.

The Settlement Fund was created by the federal court as part of the settlement between the CNMI government and its retirees.

Other promises

 Camacho also aims to improve the communication with the Washington delegate’s office on all matters pertaining to veterans and their dependents.

 He vows to establish more youth programs and create a safe environment where the youth can play.

 If elected, Camacho said he will also work on a trash collection program for low-income families.

 Camacho is a former CNMI Military/Veterans Affairs director. He served the U.S. military for 24 years and retired as a U.S. Army sergeant first class.

 He currently operates the Camacho Taekwondo Center in Gualo Rai.

 Born and raised on Saipan, he is married to Isabella Hosei, and they have two sons: Vinson and Alvin.

 He also has six other children, and is a grandfather to five grandchildren.

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