STAND. COM. REP. NO. 940-18

Honolulu, Hawaii

, 2018

RE: H.B. No. 2336

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2336, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO EMPLOYER CONTRIBUTIONS TO THE EMPLOYEES' RETIREMENT SYSTEM,"

begs leave to report as follows:

The purpose of this measure is to allow payment of employer contributions to the Employees' Retirement System in advance of the fiscal year in which the contributions are required and provide for interest on and application of the advance payments.

The Board of Trustees of the Employees' Retirement System and Department of Budget and Finance testified in support of this measure.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2336, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

SYLVIA LUKE, Chair