STAND. COM. REP. NO.754-02
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 Labor and Public Employment, 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 to pensioners aged 70 years or older with 20 or more years of service.
The Hawaii Government Employees Association, Oahu Retired Teachers Association, United Public Workers, and a concerned citizen testified in support of this measure. The Employees' Retirement System commented on this measure.
Your Committee finds that retirees are living longer and facing increased medical costs as they age. To compound the situation, inflation and the rising cost of living has caused many retirees to suffer because their retirement was calculated using the lower salaries they received during their employment years. Moreover, the 2.5 percent cost of living allowance afforded these retirees each July has never changed and is currently inadequate to live on. Your Committee feels that these retirees, many of whom served the state loyally for many years, deserve special compensation provided for in this measure.
As affirmed by the record of votes of the members of your Committee on Labor and Public Employment that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2127 and recommends that it pass Second Reading and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Labor and Public Employment,
SCOTT K. SAIKI, Chair