STAND. COM. REP. NO.1211-02
RE: S.B. No. 2127
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Your Committee on Finance, to which was referred S.B. No. 2127 entitled:
"A BILL FOR AN ACT RELATING TO THE EMPLOYEES' RETIREMENT SYSTEM,"
begs leave to report as follows:
The purpose of this bill is to provide special compensation payments to state and county retirees aged 70 years and older with at least 20 years of service, with compensation adjustments made every five years.
The Hawaii Government Employees Association and the Oahu Retired Teachers Association supported this measure. The Employees' Retirement System commented on this measure.
Your Committee has amended this measure by:
(1) Changing the effective date to July 1, 2050 to facilitate further discussion; and
(2) Making technical, nonsubstantive amendments for purposes of style and clarity.
As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2127, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2127, H.D. 1.
Respectfully submitted on behalf of the members of the Committee on Finance,
DWIGHT Y. TAKAMINE, Chair