Bill Text: HI HB1356 | 2015 | Regular Session | Amended
Bill Title: EUTF; Investments
Spectrum: Partisan Bill (Democrat 7-0)
Status: (Enrolled - Dead) 2015-04-28 - Conference Committee Meeting will reconvene on Friday 05-01-15 10:00AM in conference room 309. [HB1356 Detail]
Download: Hawaii-2015-HB1356-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1356 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
S.D. 2 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO UNFUNDED LIABILITIES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 87A-24, Hawaii Revised Statutes, is amended to read as follows:
"§87A-24 Other powers. In addition to the power to administer the fund, the board may:
(1) Collect, receive, deposit, and withdraw money on behalf of the fund;
(2) Invest moneys in the same
manner specified in section [88-119(1)(A), (1)(B), (1)(C), (2), (3), (4),
(5), (6), and (7);] 88-119;
(3) Hold, purchase, sell, assign, transfer, or dispose of any securities or other investments of the fund, as well as the proceeds of those investments and any money belonging to the fund;
(4) Appoint, and at pleasure dismiss, an administrator and other fund staff. The administrator and staff shall be exempt from chapter 76 and shall serve under and at the pleasure of the board;
(5) Make payments of periodic charges and pay for reasonable expenses incurred in carrying out the purposes of the fund;
(6) Contract for the performance of financial audits of the fund and claims audits of its insurance carriers;
(7) Retain auditors, actuaries, investment firms and managers, benefit plan consultants, or other professional advisors to carry out the purposes of this chapter, including the retaining of an actuary to determine the annual required public employer contribution for the separate trust fund established under section 87A-42;
(8) Establish health benefits plan and long-term care benefits plan rates that include administrative and other expenses necessary to effectuate the purposes of the fund; and
(9) Require any department, agency, or employee of the State or counties to furnish information to the board to carry out the purposes of this chapter."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect on January 7, 2059.
Report Title:
EUTF; Investments
Description:
Allows the Hawaii Employer-Union Health Benefits Trust Fund to invest moneys in the same manner as the Employees' Retirement System. Effective 1/7/2059. (SD2)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
