STAND. COM. REP. NO. 3287

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 2491

       H.D. 1

       S.D. 1

 

 

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred H.B. No. 2491, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE HAWAII EMPLOYER-UNION HEALTH BENEFITS TRUST FUND,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to authorize the Board of Trustees of the Hawaii Employer-Union Health Benefits Trust Fund to establish a trust fund for the purpose of receiving employer contributions that will prefund post-employment health and other benefit costs for retirees and their beneficiaries.

 

     Your Committee received written comments in support of this measure from the Department of Budget and Finance; Hawaii Employer-Union Health Benefits Trust Fund; and United Public Workers AFSCME, Local 646, AFL-CIO.

 

     Your Committee finds that this bill will ensure that the Employer-Union Health Benefits Trust Fund meets the Government Accounting Standards Board's definition of an irrevocable trust for the purpose of meeting its other post-employment benefits obligation and that public employers who make prefunded contributions receive the proper credit for the other post-employment benefits contributions on their financial statements.

 

     Your Committee has amended this measure by making technical nonsubstantive amendments for the purposes of clarity, consistency, and style.

 

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2491, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2491, H.D. 1, S.D. 1.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

 

 

____________________________

DAVID Y. IGE, Chair