Bill Text: HI HB674 | 2012 | Regular Session | Introduced
Bill Title: Employees' Retirement System
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-12-01 - Carried over to 2012 Regular Session. [HB674 Detail]
Download: Hawaii-2012-HB674-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
674 |
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TWENTY-SIXTH LEGISLATURE, 2011 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to the employees' retirement system.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 88-81, Hawaii Revised Statutes, is amended as follows:
1. By amending subsection (b) to read:
"(b) The average final compensation of members shall be calculated as follows:
(1) For employees who become members prior to January 1, 1971:
(A) During the member's five highest paid years of credited service, including vacation pay, or the three highest paid years of credited service excluding vacation pay, whichever is greater; or
(B) If the member has less than three years of
credited service, during the member's actual years of credited service[.];
(2) For employees who become members on or after
January 1, 1971[:], but before January 1, 2012:
(A) During the member's three highest paid years of credited service, excluding vacation pay; or
(B) If the member has less than three years of
credited service, during the member's actual years of credited service[.];
or
(3) For employees who become members after December 31, 2011:
(A) During the member's five highest paid years of credited service, excluding vacation pay; or
(B) If the member has less than five years of credited service, during the member's actual years of credited service."
2. By amending subsection (e) to read:
"(e) If a member has credited service
rendered as an elective officer or as a legislative officer[,] and:
(1) The member became a member before January 1, 2012, then the member's average final compensation shall be computed separately for each category of service as follows:
[(1)] (A) For the three highest paid
years of credited service as an elective officer, or if the member has less
than three years of credited service in that capacity, then the member's actual
years of credited service;
[(2)] (B) For the three highest paid
years of credited service as a legislative officer, or if the member has less
than three years of credited service in that capacity, then the member's actual
years of credited service;
[(3)] (C) For the three highest paid
years of credited service as a judge, or if the member has less than three
years of credited service in that capacity, then the member's actual years of
credited service; and
[(4)] (D) For the three highest paid
years of credited service not included in [paragraph (1), (2), or (3),] subparagraph
(A), (B), or (C) or, if the member has less than three years of
credited service in that capacity, then the member's actual years of credited
service[.]; or
(2) The member becomes a member after December 31, 2011, then the member's average final compensation shall be computed separately for each category of service as follows:
(A) For the five highest paid years of credited service as an elective officer, or if the member has less than five years of credited service in that capacity, then the member's actual years of credited service;
(B) For the five highest paid years of credited service as a legislative officer, or if the member has less than five years of credited service in that capacity, then the member's actual years of credited service;
(C) For the five highest paid years of credited service as a judge, or if the member has less than five years of credited service in that capacity, then the member's actual years of credited service; and
(D) For the five highest paid years of credited service not included in subparagraph (A), (B), or (C) or, if the member has less than five years of credited service in that capacity, then the member's actual years of credited service."
SECTION 2. This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on January 1, 2012.
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INTRODUCED BY: |
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Report Title:
Employees' Retirement System
Description:
Changes the base for the average final compensation from the 3 highest to the 5 highest paid years of credited service for public employees hired after 01/01/2012.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
