HI SB2841

Amends Hawaii Revised Statutes section 88-124 to allow the State to pay employer contributions to the Employees' Retirement System either monthly (within 30 days after month-end) or in advance for the fiscal quarter, with adjustments for excess contributions from previous quarters.

Amends section 88-126 to provide counties with the same payment flexibility starting July 1, 2016, allowing either monthly payments or advance quarterly payments with offsets for previous excess contributions.

Requires the system to determine actual amounts owed by employers each fiscal quarter and compare against amounts paid, allowing excess contributions to offset future amounts owed.

Effective upon approval, with implementation for counties commencing July 1, 2016.