STAND. COM. REP. NO. 995

Honolulu, Hawaii

, 2019

RE: H.B. No. 981

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 981, H.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 strengthen the ability of the Employees' Retirement System (ERS) to recover overpayments of retirement benefits by:

(1) Specifying that overpayments of refunds and retirement benefits constitute a debt due and owing to the ERS by recipients of the overpayments;

(2) Requiring the ERS to adopt and enforce rules for the recovery of retirement benefit overpayments; and

(3) Enabling the ERS Board of Trustees or ERS Executive Director to waive the recovery of retirement benefit overpayments in cases of bona fide hardship or where the costs of recovery would exceed the amount expected to be recovered.

ERS submitted testimony 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. 981, 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