Bill Text: HI SB2174 | 2010 | Regular Session | Amended
Bill Title: Employees' Retirement System; Board of Trustees
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2010-04-08 - (H) Received notice of Senate conferees (Sen. Com. No. 534). [SB2174 Detail]
Download: Hawaii-2010-SB2174-Amended.html
|
THE SENATE |
S.B. NO. |
2174 |
|
TWENTY-FIFTH LEGISLATURE, 2010 |
H.D. 1 |
|
|
STATE OF HAWAII |
|
|
|
|
|
|
|
|
||
|
|
||
A BILL FOR AN ACT
RELATING TO THE EMPLOYEES' RETIREMENT SYSTEM.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the counties need representation on the board of trustees of the employees' retirement system of the State. The counties contribute a considerable share to retirement system costs, and their employees and retirees are a significant portion of the system's membership. County representation will ensure that the board possesses expertise about county finances and the county workforce in making benefit decisions. Lack of representation may result in a situation where board members do not fully consider the costs of their actions on the counties, resulting in changes that may not be cost beneficial in the aggregate or may affect the retirement income of county employees and retirees.
The purpose of this Act is to include county representation on the membership of the board of trustees of the employees' retirement system.
SECTION 2. Section 88-24, Hawaii Revised Statutes, is amended to read as follows:
"§88-24 Composition of board. The
board of trustees shall consist of [eight] ten members as
follows:
(1) The director of finance of the State, ex officio;
(2) [Four] Five members of the system, [two]
three of whom shall be general employees, one of whom shall be a
teacher, and one of whom shall be a retirant to be elected by the members and
retirants of the system under rules adopted by the board governing the election
to serve for terms of six years each, one of the terms to expire on
January 1 of each even-numbered year; provided that, if after the close of
filing of petitions for candidacy, a member is unopposed for election to a
trustee position, the member shall be deemed and declared to be duly and
legally elected to the position of trustee without an election; [and]
(3) Three citizens of the State who are not
employees, one of whom shall be a responsible officer of a bank authorized to
do business within the State, or a person of similar experience, to be
appointed by the governor, with the advice and consent of the senate, to serve
for a term of six years each, one of the terms to expire January 1 of each
odd-numbered year[.]; and
(4) One member appointed by the Hawaii council of mayors, subject to confirmation by the Senate in the same manner as trustees appointed by the governor, to serve for a term of six years with each term to expire on January 1 of an odd-numbered year.
Each trustee shall serve until the trustee's successor is elected or appointed, as the case may be, and qualified. For the purpose of this section, the term "general employees" includes police officers and firefighters."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval.
Report Title:
Employees' Retirement System; Board of Trustees
Description:
Increase the membership of the Board of Trustees of the Employees' Retirement System to ten with a member selected by the Council of Mayors who is confirmed by the Senate and adding an additional member who belongs to the system. (SB2174 HD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
