THE SENATE	S.B. NO.	2394
TWENTY-FIFTH LEGISLATURE, 2010		H.D. 1
STATE OF HAWAII

A BILL FOR AN ACT

 

 

RELATING TO THE BOARD OF TRUSTEES OF THE DEFERRED COMPENSATION PLAN.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

     SECTION 1.  Section 88E-4, Hawaii Revised Statutes, is amended to read as follows:

     "§88E-4  Composition of the board of trustees.  The board of trustees shall consist of seven members as follows:

     (1)  The director of human resources development of the State [who shall serve as its chairperson;] or a designated representative, ex officio;

     (2)  The director of finance of the State or a designated representative, ex officio; and

     (3)  Five other persons, [three of whom] who shall be public employees and represent employee interests."

     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  Statutory material to be repealed is bracketed and stricken.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.

 

 

Report Title:

Deferred Compensation Plan; Board of Trustees

 

Description:

Makes the Director of Human Resources Development one of two ex officio members on the Board of Trustees of the Deferred Compensation Plan and deletes the requirement for the Director to serve as the Chairperson.  Requires the Board to have five employee members appointed by the Governor with the advice and consent of the Senate.  (SB2394 HD1)

 

 

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