HI HCR38

Establishes a legislative working group to investigate and recommend strategies for promoting retirement savings among Hawaii's private sector employees, addressing a retirement security crisis where approximately 50% of private sector workers lack access to employer-sponsored retirement plans.

Working group composed of 2 legislative co-chairs (1 Senator, 1 Representative), state officials (Director of Finance, Comptroller, Director of Commerce and Consumer Affairs, Employees' Retirement System representative), and 15 members representing business, financial services, senior advocacy, and community organizations.

Directs working group to analyze feasibility of establishing a statewide retirement savings program, examine programs in California, Oregon, and Maryland, and evaluate impact to state social safety net programs if workers lack retirement savings access.

Requires working group to develop statewide retirement savings options featuring automatic enrollment, automatic escalation, low costs, and lifetime income options for business owners, employers, part-time workers, and self-employed individuals.

Working group must report findings and recommendations, including proposed legislation, to the Legislature no later than 20 days before the 2018 Regular Session convenes.