§88-124 State appropriations for system. [Section effective until June 30, 2005. For section effective July 1, 2005, see below.] Before October 2 in every year, the board of trustees shall certify to the governor the appropriation necessary to pay to the various funds of the system the amounts payable by the State under this part for the fiscal year, beginning July 1 of the year next following, and items of appropriation providing such amounts shall be included in the general appropriation bill when it is presented to the legislature for final passage. [L 1925, c 55, pt of §8; am L Sp 1933, c 10, §3; RL 1935, pt of §7927; am L 1935, c 48, §2; RL 1945, §712, subs 6; RL 1955, §6-100; am L Sp 1959 1st, c 13, §2; HRS §88-115; am L 1969, c 110, pt of §1]

§88-124 State appropriations for system. [Section effective July 1, 2005. For section effective until June 30, 2005, see above.] Before October 2 in every year, the board of trustees shall certify to the governor the appropriation necessary to pay to the various funds of the system the amounts payable by the State under this part for the fiscal year, beginning July 1 of the year next following, and items of appropriation providing such amounts shall be included in the general appropriation bill when it is presented to the legislature for final passage.

Commencing with the 2006 calendar year and every subsequent calendar year, the board of trustees by October 2 in every calendar year, shall certify to the governor the actual amount owed by the State under this part for the just completed fiscal year ending June 30. The actual amount owed for the just completed fiscal year shall be compared against actual amounts paid in the fiscal year, and any excess contributions by the State shall be used to offset any amounts owed by the State in the next fiscal year beginning July 1. Any additional contributions owed by the State for the just completed fiscal year ending June 30 shall be payable beginning July 1 of the fiscal year next following and shall be included in the general appropriation bill when it is presented to the legislature for final passage. [L 1925, c 55, pt of §8; am L Sp 1933, c 10, §3; RL 1935, pt of §7927; am L 1935, c 48, §2; RL 1945, §712, subs 6; RL 1955, §6-100; am L Sp 1959 1st, c 13, §2; HRS §88-115; am L 1969, c 110, pt of §1; am L 2004, c 181, §4]