will the money last?
The short answer: yes, for the 75% — if the Government keeps paying and the investments keep earning. Here is what the two latest reports say, in plain words.
Not legal or financial advice. Salåppeʼta exists to keep the conversation going about what retirees are facing. It supplements, and does not replace, the NMI Settlement Fund, which remains the official source. For questions about your own benefits, contact the Fund or a qualified adviser.
Is the 75% safe?
Yes, if…the Government makes every required payment and the investments earn about 5.8% a year. The actuary’s plan pays the 75% for as long as members live.
Is the 100% covered?
NoThis plan only covers 75%. The other 25% was never part of it, and the Government stopped paying it after 2025.
Biggest risk?
Late paymentsThe plan depends on the Government paying on time every year. Investments below 5.8% would also mean the Government has to pay more.
one year, in and out
Think of the Fund as a bank account. This is what the actuary expects to go in and come out during the year ending September 2026.
Money in almost exactly matches money out, so the balance stays about the same this year.
the plan: spend it down
The Fund is meant to shrink. As members pass away, less is paid out, and the Government's yearly payment gets smaller too.
By about 2048 the account is expected to be empty. From then on, the Government is expected to pay each year's benefits directly.
what the Government must pay
The actuary sets this amount each year. It is the money needed, on top of investments, to keep paying the 75%.
FY 2026 is paid in full. The $29 million was remitted in installments; the last $8.7 million arrived on 1 July 2026. The Fund's schedule for this year references an MPLT loan.
and your health insurance
Health insurance is not paid from the Settlement Fund. It comes from the Government's yearly budget, through its Group Health and Life Insurance program (GHLI).
Under the settlement, the Government must give retirees the same health insurance it gives full-time employees. That means every budget fight puts coverage at risk.
A last-minute budget in December 2025 renewed the Aetna contract for about 7,000 retirees and employees.
The FY 2027 budget has passed the House and is now with the Senate. Lawmakers have called it a very tight budget.
About $6.4M for retiree health and $494K for retiree life insurance, per the Secretary of Finance.
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The Secretary of Finance warns that the Aetna contract ends December 31 and that $7.2M is needed to keep retirees covered.
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The House passes HB 24-75 with $2.8M for retiree health and life insurance, leaving a $4.4M gap. The Settlement Fund urges retirees to look at other options.
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The Governor signs the revised FY 2026 budget, Public Law 24-20, with $4.3M more for GHLI. The Aetna contract is renewed.
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The Secretary of Finance estimates GHLI will cost the general fund about $11.9M in FY 2027, including $6.4M for retiree health.
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The House passes the FY 2027 budget, HB 24-108, setting aside half of certain special accounts for retirees’ benefits, including GHLI. It now goes to the Senate.
Being discussed
Lawmakers and the Department of Finance have talked about moving retirees 65 and older onto Medicare as their main coverage, since insuring them on the Aetna plan is costly.
Another idea is Guam's approach, where the government reimburses retirees' Medicare premiums instead. Nothing has been decided.
Questions about your coverage
how the investments are doing
The plan assumes the Fund's investments earn 5.8% a year over the long run. Here is what they have actually earned, after fees.
The last one and three years beat the goal. Over five and ten years, and since the Fund began in 2013, returns have been below it. Last year's strong results let the actuary trim future Government payments slightly.
where it is invested
Mostly in bonds, which are steadier, with smaller shares in stocks and in real assets like property and infrastructure.
- Bonds · 40.7%
Loans to governments and companies that pay interest.
- Real assets · 18.2%
Property, infrastructure and similar holdings.
- Real return · 17.6%
Holdings meant to keep pace with inflation.
- Stocks · 17.9%
Shares in US and world companies.
- Cash · 5.6%
Kept on hand to pay monthly benefits.
what could go wrong
The Government pays late or less
The whole plan assumes every required payment arrives. Missed or late payments are the single biggest threat to the 75%.
Investments earn less than 5.8%
Over the past five and ten years, returns were below the goal. If that continues, the actuary will ask the Government for more each year.
Members live longer than expected
Good news for families, but it means paying benefits for more years than planned.
Health insurance depends on each year’s budget
Coverage is not part of the Fund. If the Government’s budget falls short, retiree health insurance is at risk, as it nearly was in December 2025.
After 2048, it all depends on the Government
Once the account is empty, benefits must be paid from the Government’s budget each year.
words used
An expert who estimates how much a pension fund will need to pay, and for how long.
The actuary’s yearly check-up of the Fund. This one is by Milliman, as of 30 September 2025.
The amount the Government must pay the Fund each year under the settlement.
What the Fund’s money earns in a year, shown as a percentage.
Returns after the managers’ fees are taken out.
sources
- Milliman, NMI Settlement Fund Actuarial Valuation as of September 30, 2025, dated September 14, 2026.
- Wilshire Advisors, NMI Settlement Fund Monthly Investment Summary, July 2026.
- NMI Settlement Fund, Schedule of CNMI Government annual contribution payments, FY 2026, as of July 1, 2026.
- NMI Settlement Fund press releases, 21 Nov and 5 Dec 2025.
- Marianas Variety, Marianas Press and Isla Public Media reporting on GHLI, Nov 2025 – Sep 2026.
A plain-language summary; the reports are the official record. Not legal or financial advice.