HI HCR123

Requests the Employees' Retirement System (ERS) to hire a consultant to review and evaluate its actuarial methods, assumptions, and funding components.

Requires ERS to report findings on current methodology and assumptions used to estimate future pension benefit payments and recommendations for contribution rates.

Seeks to ensure sustainability and solvency of ERS, which serves over 115,000 active and retired members and pays approximately $1.1 billion annually in benefits.

Notes ERS reported a 60% funded ratio with $8.495 billion unfunded actuarial accrued liability as of June 30, 2013.

Directs transmission of resolution to the Board of Trustees Chairperson and ERS Administrator.