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HI HB1035

Bill

Official Source

Status

Passed

4/28/2011

Primary Sponsor

Calvin Say

Click for details

Origin

House of Representatives

2011 Regular Session

AI Summary

  • Institutes a moratorium on all benefit enhancements to the Employees' Retirement System until the system achieves 100% funded status (actuarial value of assets equals actuarial accrued liability).

  • Prohibits any reduction of retirement age or other benefit improvements for any member group during the moratorium period.

  • Adds a new section to Chapter 88, Hawaii Revised Statutes, Part II to establish the moratorium requirement.

  • Takes effect upon approval of the Act.

Legislative Description

Employees' Retirement System; Moratorium on Benefit Enhancements

Last Action

(S) Act 029, 4/28/2011 (Gov. Msg. No. 1129).

4/28/2011

Committee Referrals

Judiciary and Labor3/10/2011
Finance2/15/2011
Labor & Public Employment1/26/2011

Full Bill Text

No bill text available