Report Title:
Employer-Union Health Benefits Trust Fund; Board Fiduciaries
Description:
Requires the Hawaii Employer-Union Benefits Trust Fund board of trustees to fulfill its fiduciary responsibilities in accordance with ERISA.
HOUSE OF REPRESENTATIVES |
H.B. NO. |
970 |
TWENTY-SECOND LEGISLATURE, 2003 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to hawaii employer-union health benefits trust fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 87A-15, Hawaii Revised Statutes, is amended to read as follows:
"[[]§87A-15[]] Administration of the fund. The board shall administer and carry out the purpose of the fund. Health and other benefit plans shall be provided at a cost affordable to both the public employers and the public employees. The board shall be fiduciaries within the standards and meaning of section 404 of the Employees Retirement Income Security Act of 1974, as amended."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval.
INTRODUCED BY: |
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