STAND. COM. REP. NO.216

Honolulu, Hawaii

, 2001

RE: H.B. No. 1567

H.D. 1

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Legislative Management, to which was referred H.B. No. 1567 entitled:

"A BILL FOR AN ACT RELATING TO THE EMPLOYEES' RETIREMENT SYSTEM,"

begs leave to report as follows:

The purpose of this bill is to change the basis for calculating retirement allowances for elective officer from 3.5 percent to 2 percent per year from January 1, 2003.

The Employees' Retirement System commented on this bill.

Your Committee has amended this bill by:

(1) Clarifying that this bill only applies to elective officers serving as a legislator of either house after December 31, 2003;

(2) Clarifying the computation of elective officers' retirement allowance;

(3) Changing the effective date to January 1, 2004; and

(4) Making technical, nonsubstantive amendments for purposes of clarity and style.

 

As affirmed by the record of votes of the members of your Committee on Legislative Management that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1567, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1567, H.D. 1, and be referred to the Committee on Labor and Public Employment.

Respectfully submitted on behalf of the members of the Committee on Legislative Management,

____________________________

NATHAN SUZUKI, Chair