THE SENATE S.B. NO. 2608 THIRTY-SECOND LEGISLATURE, 2024 STATE OF HAWAII A BILL FOR AN ACT relating to pension calculations. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
THE SENATE S.B. NO. 2608
THIRTY-SECOND LEGISLATURE, 2024
STATE OF HAWAII
THE SENATE
S.B. NO.
2608
THIRTY-SECOND LEGISLATURE, 2024
STATE OF HAWAII
A BILL FOR AN ACT
relating to pension calculations.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 88-21.5, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows: "(b) For a member who becomes a member after June 30, 2012, unless a different meaning is plainly required by context, "compensation" as used in this part: (1) Means: (A) The normal periodic payments of money for service, the right to which accrues on an hourly, daily, monthly, or annual basis; (B) Shortage differentials; (C) Elective salary reduction contributions under sections 125, 403(b), and 457(b) of the Internal Revenue Code of 1986, as amended; (D) Twelve-month differentials for employees of the department of education; [and] (E) Retroactive payments of those purposes and nature of payments authorized in subparagraphs (A) through (D), and certified as compensation pursuant to section 88-64; and (F) Payments for overtime while the member worked during an emergency proclamation applicable to that member; (2) Shall not include any other additional or extra payments to an employee or officer, including overtime[,] not specifically included in compensation under paragraph (1)(F), supplementary payments, bonuses, lump sum salary supplements, allowances, or differentials, including differentials for stand-by duty, temporary unusual work hazards, compression differentials, or temporary differentials, except for those expressly authorized pursuant to paragraphs (1)(B) through (1)(E); and (3) Retroactive payments shall be deemed earned when it would have been earned, as determined by the system pursuant to section 88-64." SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored. SECTION 3. This Act shall take effect upon its approval. INTRODUCED BY: _____________________________
SECTION 1. Section 88-21.5, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:
"(b) For a member who becomes a member after June 30, 2012, unless a different meaning is plainly required by context, "compensation" as used in this part:
(1) Means:
(A) The normal periodic payments of money for service, the right to which accrues on an hourly, daily, monthly, or annual basis;
(B) Shortage differentials;
(C) Elective salary reduction contributions under sections 125, 403(b), and 457(b) of the Internal Revenue Code of 1986, as amended;
(D) Twelve-month differentials for employees of the department of education; [and]
(E) Retroactive payments of those purposes and nature of payments authorized in subparagraphs (A) through (D), and certified as compensation pursuant to section 88-64; and
(F) Payments for overtime while the member worked during an emergency proclamation applicable to that member;
(2) Shall not include any other additional or extra payments to an employee or officer, including overtime[,] not specifically included in compensation under paragraph (1)(F), supplementary payments, bonuses, lump sum salary supplements, allowances, or differentials, including differentials for stand-by duty, temporary unusual work hazards, compression differentials, or temporary differentials, except for those expressly authorized pursuant to paragraphs (1)(B) through (1)(E); and
(3) Retroactive payments shall be deemed earned when it would have been earned, as determined by the system pursuant to section 88-64."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval.
INTRODUCED BY: _____________________________
INTRODUCED BY:
_____________________________
Report Title: ERS; Public Employment; Pension Calculation; Overtime Description: Includes overtime pay earned during an emergency proclamation as part of the pension calculation for individuals who became a member of the Employees' Retirement System after 6/30/2012. The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
Report Title:
ERS; Public Employment; Pension Calculation; Overtime
Description:
Includes overtime pay earned during an emergency proclamation as part of the pension calculation for individuals who became a member of the Employees' Retirement System after 6/30/2012.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.