Bill Text: HI SB2765 | 2018 | Regular Session | Amended
Bill Title: Relating To Investment Personnel Of The Employees' Retirement System.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2018-04-04 - The committee(s) on FIN recommend(s) that the measure be deferred. [SB2765 Detail]
Download: Hawaii-2018-SB2765-Amended.html
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THE SENATE |
S.B. NO. |
2765 |
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TWENTY-NINTH LEGISLATURE, 2018 |
S.D. 1 |
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STATE OF HAWAII |
H.D. 1 |
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A BILL FOR AN ACT
RELATING TO INVESTMENT PERSONNEL OF THE EMPLOYEES' RETIREMENT SYSTEM.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 88-29.5, Hawaii Revised Statutes, is amended to read as follows:
"[[]§88-29.5[]] Investment personnel. The board may[, through its
executive director,] appoint one or more investment officers[,] and
investment professionals, under the direction of the chief investment
officer, [prescribing] prescribe their duties and qualifications
and [fixing] fix their salaries[, who]. Investment officers and investment
professionals, including investment specialists, who are appointed pursuant to
this section, shall be exempt from [chapter] chapters 76[.]
and 89."
SECTION 2. A person in service as an investment specialist on the effective date of this Act shall have the option, which if exercised shall be irrevocable, to remain subject to chapter 76, Hawaii Revised Statutes, so long as the person remains an investment specialist.
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 Statutory material to be repealed is bracketed and stricken.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, 2050.
Report Title:
Employees' Retirement System; Personnel
Description:
Allows the Board of Trustees of the Employees' Retirement System to appoint one or more investment professionals and changes the status of investment specialists from civil service to exempt from civil service and collective bargaining. (SB2732 HD1)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
