Report Title:

ERS; Semimonthly Payment of Retirement Benefits for Bargaining Units 5 and 12; Adjusted Retirement Date for Nine, Ten, and Eleven-month Employees, Elective Officers, and Appointees of the Governor

Description:

Requires retirees and beneficiaries of bargaining units 5 and 12 to be paid semimonthly. Allows nine, ten and eleven-month employees, elective officers, and appointees of the governor to specify the effective date of their retirement.

HOUSE OF REPRESENTATIVES

H.B. NO.

393

TWENTY-SECOND LEGISLATURE, 2003

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to the employees' retirement system.

 

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

SECTION 1. Section 88-6, Hawaii Revised Statutes, is amended to read as follows:

"88-6 Payment of retirement benefits. Notwithstanding any other provision of this chapter:

(1) All retirees and beneficiaries of the state retirement system or county pension funds shall be paid semimonthly[; and effective]. Effective January 1, 2003, all retirees and beneficiaries of the state retirement system who either retire or become beneficiaries after January 1, 2003, shall be paid monthly; [and] provided that, irrespective of retirement date, retirees and beneficiaries of collective bargaining units (5), teachers other personnel of the department of education under the same pay schedule, including part-time employees working less than twenty hours a week who are equal to one-half of a full-time equivalent, and collective bargaining unit (12), police officers, shall be paid semimonthly.

(2) Any retiree or beneficiary whose benefit commences after June 30, 2001, shall designate a financial institution account into which the system shall be authorized to deposit their retirement benefit. This method of payment may be waived by the system if another method is determined to be more appropriate."

SECTION 2. Section 88-73, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:

"(c) A member may retire upon the written application specifying the date of retirement, which shall not be less than thirty days nor more than one hundred fifty days subsequent to the date of filing. Retirement shall be effective on the first day of a month, except for the month of December when retirement on the first or last day of the month shall be allowed[.]; provided that retirement shall be effective on the date specified in the written application of nine-, ten-, or eleven-month employees, elective officers, and appointees of the governor."

SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 4. This Act shall take effect upon its approval.

INTRODUCED BY:

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