HI SCR82

Requests the Department of Budget and Finance to convene a work and save working group to investigate the feasibility and impact of establishing a retirement savings trust fund for private-sector employees in Hawaii.

Directs the Director of Finance to invite the Comptroller, Securities Commissioner, Chamber of Commerce representative, two retirement investment experts, one small business representative, one public member, and one employee representative to serve on the working group.

Requires the working group to develop guidance and recommendations for an investment policy that preserves principal safety and provides stable, low-risk returns, and a risk management and oversight plan for monitoring portfolio risk levels.

Mandates the working group to report findings, recommendations, and proposed legislation to the Legislature no later than 20 days before the 2017 Regular Session convenes.

Addresses the retirement security crisis affecting approximately 216,000 private-sector employees in Hawaii who lack access to employer-sponsored retirement plans.