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HOUSE OF REPRESENTATIVES |
H.B. NO. |
778 |
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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 hawaii employer-Union Health BENEFITS trust fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to require excess reserves and investment and other earnings of the Hawaii employer-union health benefits trust fund to be used to defray the employers' contribution towards the cost of the health benefits plan for retirees.
This Act takes effect on July 1, 2011, and shall be repealed on June 30, 2015.
SECTION 2. Section 87A-31, Hawaii Revised Statutes, is amended as follows:
1. By amending subsection (b) to read:
"(b) The fund[, including any earnings
on investments, and rate credits or reimbursements from any carrier or
self-insured plan and any earning or interest derived therefrom,] may be
used to stabilize health and other benefit plan rates; provided that the
approval of the governor and the legislature shall be necessary to fund
administrative and other expenses necessary to effectuate these purposes."
2. By amending subsection (e) to read:
"(e) [At the discretion of the board,
some or all of the fund may] All excess reserves and investment and
other earnings of the fund, except employer and employee contributions, shall
be used [as a reserve against or to pay the fund's future costs of providing]
to defray the employers' contribution for health and other benefits
plans established under sections 87A-23 and 87A-37 [and any other benefits
plans the board establishes for retired employees and their beneficiaries.];
provided that a portion of the earnings may be used to pay for the
administrative and other expenses of the fund in accordance with subsection
(b). The board may create separate funds within the fund for this
purpose. Each separate fund shall be subject to all of the provisions of this
chapter."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2011,
and shall be repealed on June 30, 2015; provided that section 87A‑31,
Hawaii Revised Statutes, shall be reenacted in the form
in which it read on the day before the effective date of this Act.
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INTRODUCED BY: |
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Report Title:
Hawaii Employer-Union Health Benefits Trust Fund
Description:
Requires excess reserves and investment and other earnings of the Hawaii employer-union health benefits trust fund to be used to defray the employers' contribution towards the health benefits plan costs of retirees. Allows a portion of the earnings to be used for administrative and other expenses of the fund. Takes effect on 7/01/11 and is repealed on 6/30/15.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.