STAND. COM. REP. NO.  1054-16

Honolulu, Hawaii

                , 2016

RE:   S.B. No. 2841

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Labor & Public Employment, to which was referred S.B. No. 2841 entitled:

"A BILL FOR AN ACT RELATING TO PAYMENTS BY EMPLOYERS TO THE EMPLOYEES' RETIREMENT SYSTEM,"

begs leave to report as follows:

The purpose of this measure is to facilitate public employers' payment of contributions to the Employees' Retirement System by:

     (1)  Authorizing the State and the counties to make advance payments to the System in lieu of monthly payments;

     (2)  Providing that the Employees' Retirement System's determination of the actual amounts owed by the State and counties for each fiscal quarter take into account any excess contributions, as well as amounts paid, in the previous quarter; and

     (3)  Requiring that these payment procedures commence on July 1, 2016.

The Employees' Retirement System and a concerned individual supported this measure.

     As affirmed by the record of votes of the members of your Committee on Labor & Public Employment that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2841 and recommends that it pass Second Reading and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Labor & Public Employment,

____________________________

MARK M. NAKASHIMA, Chair