HI HB916

Establishes a moratorium on benefit enhancements for retired employee-beneficiaries under the Hawaii employer-union health benefits trust fund until the separate trust fund's actuarial value reaches 100% of its actuarial accrued liability, with exceptions for enhancements that do not increase or that decrease OPEB liability.

Expands the fund's investment authority by repealing restrictions that limited investments to specific asset classes under section 88-119, allowing the fund to invest in all asset classes available under the employees' retirement system.

Makes housekeeping amendments to section 87A-34 by changing a reference from paragraph (1)(E) to (1)(D) in the definition of "employee" for state and county contributions to the fund.

Makes housekeeping amendments to section 87A-36 by changing references from paragraph (1)(E) to (1)(D) for monthly contribution calculations based on years of service and upon employee death.

Takes effect upon approval.