STAND. COM. REP. NO.215
Honolulu, Hawaii
, 2001
RE: H.B. No. 825
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. 825 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 legislative officers from 3.5 percent per year to 2 percent per year.
The Employees' Retirement System (ERS) commented on the bill.
Your Committee has amended this bill by:
(1) Clarifying that this bill only applies to legislative officers first appointed after June 30, 2001;
(2) Clarifying the computation of legislative officers' retirement allowance; and
(3) 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. 825, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 825, H.D. 1, and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Legislative Management,
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____________________________ NATHAN SUZUKI, Chair |
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