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HI HB406
Bill
Status
Introduced
1/17/2025
Primary Sponsor
Nadine Nakamura
Click for details
AI Summary
- Establishes a deferred retirement option program (DROP) for police officers who have reached normal retirement eligibility (25 years of service)
- Eligible officers must enroll within 12 months of retirement eligibility and may participate for up to 120 months, with total tenure not exceeding 35 years
- Pension payments for DROP participants are deposited into a separate account with investment earnings/losses matching the pension plan's actual return, paid out upon program termination
- DROP enrollees stop paying into the retirement system, do not accrue additional service credit, and are ineligible for disability benefits or state/county deferred compensation plans
- Participants receive healthcare benefits as retirees and continue accruing vacation and sick leave, with vacation leave paid into their DROP account upon termination
Legislative Description
Relating To Deferred Retirement For Police.
Police
Last Action
Carried over to 2026 Regular Session.
12/8/2025
Committee Referrals
Labor & Public Employment1/21/2025
Full Bill Text
No bill text available