STAND. COM. REP. NO.1040
Honolulu, Hawaii
, 2001
RE: S.B. No. 1039
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Sir:
Your Committee on Labor and Public Employment, to which was referred S.B. No. 1039 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 clarify the forfeiture provisions for retirees who return to work after receiving the special retirement incentive benefit under the workforce reduction provisions in Act 253, Session Laws of Hawaii, 2000.
The Employees' Retirement System Board of Trustees testified in support of this bill.
This bill will require that any retiree who received the special retirement incentive benefit under Act 253, Session Laws of Hawaii 2000, and is re-employed by the state or county in any capacity shall:
(1) Have their retirement allowance suspended;
(2) Forfeit the special retirement incentive benefit and any other related benefit provided by chapter 88, Hawaii Revised Statutes; and
(3) Be subject to the age and service requirements under section 88-73, Hawaii Revised Statutes, when the member again retires.
As affirmed by the record of votes of the members of your Committee on Labor and Public Employment that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1039 and recommends that it pass Second Reading and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Labor and Public Employment,
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____________________________ TERRY NUI YOSHINAGA, Chair |
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