HI HB1136

Clarifies that "covered employer" excludes businesses that have offered or maintained a tax-qualified retirement plan for some or all employees at any time during the preceding two years

Changes the Hawaii Retirement Savings Program from opt-in to automatic enrollment, requiring covered employers to automatically enroll employees unless they choose to opt out

Requires covered employers to withhold payroll deduction contributions and transmit them to the program no later than the 15th day of the calendar month following withholding

Establishes penalties for employers who fail to enroll covered employees: $25 per month for non-enrollment, increasing to $50 per month after a penalty has been assessed

Allows the board to offer participants the choice between a Roth individual retirement account and a traditional individual retirement account, or both