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HI SB3096
Bill
Status
3/6/2026
Primary Sponsor
Ronald Kouchi
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AI Summary
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Increases employer contribution rates for the Employees' Retirement System beginning fiscal year 2027-2028 for police officers, firefighters, and corrections officers from 41% to 44% of member compensation.
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Maintains the employer contribution rate at 24% of member compensation for all other state employees, unchanged from the current rate established in fiscal year 2020-2021.
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Amends Section 88-122 of the Hawaii Revised Statutes to address unfunded accrued liability in the state pension system.
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Allows contribution rate adjustments if the amortization period exceeds the maximum funding period, if there is no unfunded liability, or based on actuarial investigations.
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Takes effect January 1, 2077.
Legislative Description
Relating To The Employees' Retirement System's Employer Contributions For Normal Cost And Accrued Liability.
ERS
Last Action
Bill scheduled to be heard by LAB on Tuesday, 03-17-26 9:30AM in House conference room 309 VIA VIDEOCONFERENCE.
3/12/2026