HI HB271

Amends Hawaii Revised Statutes Section 88-21.5 to expand the definition of "compensation" for employees' retirement system purposes to include overtime payments earned by essential workers between March 1, 2020, and an unspecified end date.

Applies only to members who became members after June 30, 2012, as members before that date have different compensation definitions under existing law.

Appropriates funds from the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) for fiscal years 2021-2022 and 2022-2023 to cover additional retirement system costs resulting from the expanded compensation definition (specific dollar amount not filled in).

Directs the employees' retirement system to expend appropriated funds for purposes of this Act.

Takes effect on July 1, 2021.