SB 946 Summary

• Establishes a Lifelong Learning Accounts program within the Department of Labor and Industrial Relations to support skills upgrading for incumbent workers already employed in Hawaii.

• Creates individual asset accounts held by approved trustees where employees can contribute money matched by their employers, similar to 401(k) plans but designated for education and training expenses.

• Directs the department to establish the program to qualify for potential federal funding, encourage employer and employee participation across diverse industries and economic levels, and provide technical assistance and career counseling.

• Authorizes the Director of Labor and Industrial Relations to adopt rules necessary for implementation and enforcement of the program under chapter 91 administrative procedures.

• Effective date: July 1, 2009.