STAND. COM. REP. 747

Honolulu, Hawaii

, 2003

RE: H.B. No. 1159

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1159 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 compensate retirees for any unreasonable delays in finalizing their pensions by:

(1) Requiring the Employees' Retirement System (ERS) to pay interest on the amount owed retirees whose pensions are not finalized within six months following their retirement;

(2) Requiring ERS to assess the employing agency a late fee for each month of delay in reporting pertinent information needed to finalize a retiree's pension; and

(3) Appropriating $150,000 to modify ERS's computer system to accommodate this change.

ERS and the Hawaii State Teachers Association testified in support of this measure. The City and County of Honolulu Department of Human Resources opposed this bill.

 

Your Committee has amended this bill by:

(1) Replacing the appropriated amount with $1 for the purpose of continued discussion; and

(2) Making technical, nonsubstantive amendments to conform to standard drafting conventions.

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 H.B. No. 1159, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1159, H.D. 1.

Respectfully submitted on behalf of the members of the Committee on Finance,

 

____________________________

DWIGHT Y. TAKAMINE, Chair