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HI HB1082
Bill
Status
Introduced
1/23/2025
Primary Sponsor
Nadine Nakamura
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AI Summary
- Reduces the vesting requirement for "Tier 2" members of the Employees' Retirement System (those who joined after June 30, 2012) from ten years to five years of credited service, effective July 1, 2027
- Aligns Tier 2 vesting requirements with "Tier 1" members (those who joined before July 1, 2012), who already qualify for vested benefit status after five years
- Increases employer contribution rates starting fiscal year 2025-2026 to 41.19% for police officers, firefighters, and corrections officers (up from 41%) and 24.19% for all other employees (up from 24%)
- Actuarial analysis estimates the change would extend the pension system's full funding period by approximately four months
- Aims to improve recruitment and retention of state and county employees by providing earlier access to retirement benefits
Legislative Description
Relating To The Employees' Retirement System.
ERS
Last Action
Carried over to 2026 Regular Session.
12/8/2025
Committee Referrals
Labor & Public Employment1/23/2025
Full Bill Text
No bill text available