HOUSE OF REPRESENTATIVES

H.B. NO.

2491

TWENTY-SIXTH LEGISLATURE, 2012

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO THE HAWAII EMPLOYER-UNION HEALTH BENEFITS TRUST FUND.

 

 

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

 


SECTION 1.  Chapter 87A, Hawaii Revised Statutes, is amended by adding to part IV a new section to be appropriately designated and to read as follows:

     "§87A-     Other post-employment benefits trust.  Notwithstanding sections 87A-31 and 87A-31.5, the board may, upon terms and conditions set by the board, establish and administer a separate trust fund for the purpose of receiving employer contributions that will prefund other post-employment health and other benefit plan costs for retirees and their beneficiaries.  If such a fund is established, it shall meet the requirements of the Government Accounting Standards Board regarding other post-employment benefits trusts.  Employer contributions to the separate trust fund shall be irrevocable; all assets of the fund shall be dedicated exclusively to providing health and other benefits to retirees and their beneficiaries; and assets of the fund shall not be subject to appropriation for any other purpose and shall not be subject to claims by creditors of the employers or the board or plan administrator.  The board's powers under section 87A-24 shall also apply to any fund established pursuant to this section."

     SECTION 2.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect upon its approval.

 

INTRODUCED BY:

_____________________________

 

BY REQUEST


 


 

Report Title:

Employer-Union Health Benefits Trust Fund; Other Post-employment Benefits Trust.

 

Description:

Authorizes the board of the Employer-Union Health Benefits Trust Fund to create 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.

 

 

 

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