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HI HB382
Bill
Status
1/26/2015
Primary Sponsor
Joy San Buenaventura
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AI Summary
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Adds a new section to Chapter 88, Hawaii Revised Statutes, authorizing the Employees' Retirement System to make benefit payments to alternate payees (former spouses or former civil union partners) pursuant to qualified domestic relations orders.
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Requires alternate payees to submit an application and domestic relations order to the system; the system must review and approve orders as "qualified" before disbursing benefits in accordance with the order's terms.
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Allows the system to charge an administrative fee to the member, retirant, and alternate payee in proportion to benefits paid, with the fee deductible from the benefit payment.
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Modifies Section 88-91 to except qualified domestic relations order payments from the general rule that retirement benefits are exempt from execution, garnishment, and assignment.
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Effective date: January 1, 2018.
Legislative Description
Employees' Retirement System; Division of Pension
Last Action
The committee(s) on FIN recommend(s) that the measure be deferred.
2/18/2015