STAND. COM. REP. NO.2629
Honolulu, Hawaii
, 2002
RE: S.B. No. 2715
S.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Sir:
Your Committee on Ways and Means, to which was referred S.B. No. 2715, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO THE EMPLOYEES' RETIREMENT SYSTEM,"
begs leave to report as follows:
The purpose of this measure is to simplify laws relating to the Employees' Retirement System to enable state or county employees to receive their pension benefits in a timely manner.
Specifically, this measure:
(1) Allows a pensioner's beneficiary to receive a full monthly pension for the month in which the retiree dies;
(2) Provides that individuals who retire or become beneficiaries after January 1, 2003 are paid benefits monthly instead of every two weeks;
(3) Authorizes the Employees' Retirement System to require state or county departments or agencies to furnish information in a timely manner;
(4) Simplifies the computation of retirement service credits and average final compensation;
(5) Extends the period to file written application specifying date of retirement to one hundred fifty days; and
(6) Provides that retirement is effective on the first day of a month.
Your Committee finds that this measure will facilitate processing and payment of retirement, disability, and death benefits for members of the Employees' Retirement System on a timely basis, benefiting both the Employees' Retirement System members and the state and county payroll and personnel offices.
As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2715, S.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
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____________________________ BRIAN T. TANIGUCHI, Chair |
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