STAND. COM. REP. NO. 852
Honolulu, Hawaii
, 2005
RE: S.B. No. 738
S.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Sir:
Your Committee on Ways and Means, to which was referred S.B. No. 738, 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 allow the Board of the Employees' Retirement System to compromise or settle claims by members who detrimentally rely upon erroneous information provided by the Employees' Retirement System.
More specifically, the Board, under this measure, may compromise or settle any claims for benefits to which a member or former member of the system would not otherwise be entitled if:
(1) The claim resulted from an erroneous written representation made by an authorized employee of the system; and
(2) The member, in good faith reliance on the representation, decided to retire or terminate the member's employment or membership in the system.
Your Committee finds that allowing the Employees' Retirement System to settle such claims provides fairness to members or former members of the system and may avoid lengthy and costly litigation.
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. 738, 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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