CONFERENCE COMMITTEE REP. NO. 157
Honolulu, Hawaii
, 2005
RE: S.B. No. 1194
S.D. 1
H.D. 2
C.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Sir:
Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 1194, S.D. 1, H.D. 2, entitled:
"A BILL FOR AN ACT RELATING TO THE BOARD OF TRUSTEES OF THE DEFERRED COMPENSATION PLAN,"
having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.
The purpose of this measure is to provide for the election of the public employee members of the Board of Trustees (Board) of the Deferred Compensation Plan by the members.
Under the current law, the Board is comprised of seven members. Aside from the two ex officio members of the Board, the remaining five members are appointed by the Governor, with confirmation by the Senate. However, to better represent the interests of the members of the Deferred Compensation Plan, the remaining Board members should instead be elected by the plan members themselves. This method of election provides a more democratic process which will allow the decision making of the Board to be brought closer to its own constituency.
Additionally, in order to preserve institutional knowledge, promote continuity, and ensure smooth transition between membership terms within the Board, staggered terms should be utilized.
Upon further consideration, your Committee on Conference has amended this measure by:
(1) Requiring all elected members of the Board to serve staggered terms of four years each;
(2) Providing that the initial and subsequent elections of replacements to fill each elected board position will be conducted prior to the expiration of the staggered terms of each position; and
(3) Changing the effective date of the Act from July 1, 2010 to be effective upon its approval.
As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 1194, S.D. 1, H.D. 2, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 1194, S.D. 1, H.D. 2, C.D. 1.
Respectfully submitted on behalf of the managers:
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ON THE PART OF THE HOUSE |
ON THE PART OF THE SENATE |
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____________________________ KIRK CALDWELL, Co-Chair |
____________________________ BRIAN KANNO, Chair |
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____________________________ BOB NAKASONE, Co-Chair |
____________________________ BRIAN T. TANIGUCHI, Co-Chair |
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