Bill Text: HI HB2489 | 2012 | Regular Session | Introduced
Bill Title: Employees' Retirement System
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-02-14 - (H) The committee(s) on LAB recommend(s) that the measure be deferred. [HB2489 Detail]
Download: Hawaii-2012-HB2489-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2489 |
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TWENTY-SIXTH LEGISLATURE, 2012 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE EMPLOYEES' RETIREMENT SYSTEM.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 88-24, Hawaii Revised Statutes, is amended to read as follows:
"§88-24 Composition of board. The board of trustees shall consist of eight members as follows:
(1) The director of finance of the State, ex officio;
(2) Four members of the system, two of whom shall be general employees, one of whom shall be a teacher, and one of whom shall be a retirant to be elected by the members and retirants of the system under rules adopted by the board governing the election to serve for terms of six years each, one of the terms to expire on January 1 of each even-numbered year; provided that, if after the close of filing of petitions for candidacy, a member is unopposed for election to a trustee position, the member shall be deemed and declared to be duly and legally elected to the position of trustee without an election; and
(3) Three citizens of the State who are not
employees, one of whom [shall be a responsible officer of a bank authorized
to do business within the State, or a person of similar experience,] has
substantial experience providing financial services, including investments, to
public, corporate, or private institutional clients, to be appointed by the
governor, with the advice and consent of the senate, to serve for a term of six
years each, one of the terms to expire January 1 of each odd-numbered year.
Each trustee shall serve until the trustee's successor is elected or appointed, as the case may be, and qualified. For the purpose of this section, the term "general employees" includes police officers and firefighters."
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 Statutory material to be repealed is bracketed and stricken.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.
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INTRODUCED BY: |
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BY REQUEST |
Report Title:
Employees' Retirement System
Description:
Changes one of the requirements to become a member of the Board of Trustees of the Employees' Retirement System of the State of Hawaii.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
