Bill Text: HI SB557 | 2013 | Regular Session | Introduced
Bill Title: Hawaii State Association of Counties Package; Employees' Retirement System; Board
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2013-01-22 - Referred to JDL/PSM, WAM. [SB557 Detail]
Download: Hawaii-2013-SB557-Introduced.html
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THE SENATE |
S.B. NO. |
557 |
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TWENTY-SEVENTH LEGISLATURE, 2013 |
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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. The legislature finds that the counties need county 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, two of whom shall have at least three years of experience providing
financial services, including investments, to public, corporate, or private
institutional clients, 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 unanimous agreement of the mayors of each of the four counties and approved by the Hawaii State Association of Counties, subject to the advice and consent of 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. The counties shall be responsible for all necessary expenses, including travel, board, and lodging expenses, and any other costs, incurred in the performance of the member's duties.
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 on July 1, 2030.
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INTRODUCED BY: |
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Report Title:
Hawaii State Association of Counties Package; Employees' Retirement System; Board
Description:
Adds two members to the board of trustees of the employees' retirement system. One of the new members is to be appointed by unanimous agreement of the mayors of each county and approved by the Hawaii State Association of Counties. Effective 07/01/2030.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
