HI SB1313

Authorizes the Board of Trustees of the Hawaii Employer-Union Health Benefits Trust Fund to establish salaries for the trust fund administrator and chief investment officer.

Allows the board to set compensation levels commensurate with private sector standards to improve recruitment and retention of qualified managers.

Amends section 87A-24, Hawaii Revised Statutes, by adding language that "the salaries of the administrator and chief investment officer shall be set by the board."

Models the amendment after similar authority granted to the Board of Trustees of the Employees' Retirement System under section 88-29, Hawaii Revised Statutes.

Effective January 1, 2050, with amendments preserved if section 87A-24 is reenacted on June 30, 2023, under Act 229, Session Laws of Hawaii, 2021.