HI SB1262

Institutes a moratorium on any benefit enhancements under Hawaii's Employees' Retirement System, including reductions in retirement age, until the system achieves an 80% funded ratio.

Defines funded ratio as the actuarial value of system assets compared to the system's actuarial accrued liability.

Aims to improve and protect the funded status of the Employees' Retirement System by preventing benefit expansions that would delay full funding of the system.

Takes effect upon approval and applies to all groups of members under Chapter 88 of Hawaii Revised Statutes.