REPORT TITLE:



DESCRIPTION:


 
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                                                        1182
THE SENATE                              S.B. NO.           
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO THE UNIVERSITY OF HAWAII OPTIONAL RETIREMENT
   SYSTEM.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  Section 88-8, Hawaii Revised Statutes, is
 
 2 amended to read as follows:
 
 3      "[[]88-8[]]  University of Hawaii optional retirement
 
 4 system.(a)  Notwithstanding any other law to the contrary, the
 
 5 board of regents may establish without regard to the public
 
 6 notice or public hearing requirements of chapter 91, a retirement
 
 7 system separate from the state employees' retirement system to
 
 8 provide retirement allowances and other benefits for University
 
 9 of Hawaii employees who are eligible for membership in the state
 
10 employees' retirement system and are:
 
11      (1)  Members of bargaining unit (7); or
 
12      (2)  [Other employees of the University of Hawaii or the
 
13           community college system who are excluded] Excluded
 
14           from bargaining unit (7) pursuant to chapter 89.
 
15      (b)  The general administration and the responsibility for
 
16 the proper operation of the optional retirement system of the
 
17 University of Hawaii shall be vested in the board of regents.
 
18 The board of regents may manage the optional retirement system
 
19 within the University of Hawaii or contract for the management of
 

 
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 1 the optional retirement system.
 
 2      (c)  The board of regents may establish vesting periods for
 
 3 the members of the optional retirement system of the University
 
 4 of Hawaii that are different from those established in this
 
 5 chapter.
 
 6      (d)  The board of regents may establish retirement
 
 7 allowances and other benefits for the optional retirement system
 
 8 of the University of Hawaii.
 
 9      (e)  The employer's share of the cost of the optional
 
10 retirement plan of the optional retirement system of the
 
11 University of Hawaii shall not exceed the equivalent amount for
 
12 any other group covered by this chapter.
 
13      (f)  Any member of the state employees' retirement system
 
14 when the optional retirement system of the University of Hawaii
 
15 is established who is also:
 
16      (1)  A member of bargaining unit (7); or
 
17      (2)  Other [employees] employee of the University of Hawaii
 
18           [or the community college system] who [are] is excluded
 
19           from bargaining unit (7) pursuant to chapter 89,
 
20 shall remain a member of the state employees' retirement system
 
21 unless the person elects in writing on a form prescribed by the
 
22 board of regents to terminate the person's membership.  The form
 
23 shall be submitted to the state employees' retirement system no
 

 
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 1 later than ninety days after the establishment of the optional
 
 2 retirement system of the University of Hawaii.
 
 3      (g)  Any person hired after the establishment of the
 
 4 optional retirement system of the University of Hawaii who is
 
 5 eligible for membership in the state employees' retirement system
 
 6 and is:
 
 7      (1)  A member of bargaining unit (7); or
 
 8      (2)  [Other employees of the University of Hawaii or the
 
 9           community college system who are excluded] Excluded
 
10           from bargaining unit (7) pursuant to chapter 89,
 
11 shall elect to be a member of the state employees' retirement
 
12 system or the optional retirement system of the University of
 
13 Hawaii.  Upon an election the person may not transfer from one
 
14 system to the other.
 
15      (h)  Notwithstanding any other law to the contrary[,
 
16 retirement benefits for the] and subject to the limitation
 
17 contained in subsection (e), the employer's contribution to any
 
18 optional retirement system [of the University of Hawaii]
 
19 established by the board of regents shall be a subject of
 
20 collective bargaining negotiations for bargaining unit (7)."
 
21      SECTION 2.  Statutory material to be repealed is bracketed.
 
22 New statutory material is underscored.
 
23      SECTION 3.  This Act shall take effect upon its approval.
 
24 
 
25                           INTRODUCED BY:  _______________________
 

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