Report Title:

Pub. Empl. Health Fund; Bd. of Trustees; Fiduciary Duty

 

Description:

Clarifies that the board of trustees of the public employees health fund owes primary fiduciary duty to public employer.

 

HOUSE OF REPRESENTATIVES

H.B. NO.

1689

TWENTY-FIRST LEGISLATURE, 2001

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to the public employees health fund.

 

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

SECTION 1. Section 87-21, Hawaii Revised Statutes, is amended to read as follows:

"§87-21 Administration of the fund[.]; primary fiduciary duty. (a) The board of trustees shall administer and carry out the purpose of the fund.

(b) The board of trustees, when balancing the competing interests of the public employer and the employee-beneficiaries in carrying out its duties under this section, or in fulfilling any other responsibility specified under this chapter, shall owe a primary fiduciary duty to the public employer."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:

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