Loading chat...
HI SB3128
Bill
Status
3/8/2022
Primary Sponsor
Ronald Kouchi
Click for details
AI Summary
-
Amends the definition of "adequate reserve fund" in Hawaii Revised Statutes Section 383-63 for calendar years 2023 through 2030 to exclude the benefit cost rate from June 2020 through August 2021.
-
Maintains the existing calculation method of multiplying the highest benefit cost rate during the ten-year period ending November 30 by total remuneration paid by all employers during the last four calendar quarters ending June 30.
-
Clarifies that "remuneration" means wages as defined in Section 383-10 for purposes of the adequate reserve fund definition.
-
Takes effect on January 1, 2050.
Legislative Description
Relating To The Adequate Reserve Fund.
Employer Contributions
Last Action
Report adopted. referred to the committee(s) on FIN as amended in HD 1 with none voting aye with reservations; none voting no (0) and Representative(s) Ohno excused (1).
3/24/2022