HI SB211

Allows retroactive reinstatement, retroactive recission of suspension, retroactive pay differential, and back pay awarded through court proceedings to be counted toward employee retirement benefits calculations.

Requires employees to make lump sum payments to the retirement system equal to the actuarial present value of employee contributions they would have made during the retroactive period, plus compound interest at the assumed rate of return.

Requires employers to make lump sum payments to the retirement system equal to the actuarial present value of employer contributions that would have been made during the retroactive period, plus compound interest at the assumed rate of return.

Defines "final adjudication of a court of competent jurisdiction" to include court decisions, stipulated judgments, court-approved settlements, and third-party arbitration decisions from which no appeal may be filed or timely appeal has not been filed.

Applies retroactively credited service and compensation only when they meet existing requirements of Hawaii Revised Statutes Chapter 88, including definitions of service, compensation, and employer reporting requirements.

Takes effect January 1, 2050.