Bill Text: HI SB2608 | 2024 | Regular Session | Introduced
Bill Title: Relating To Pension Calculations.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-01-24 - Referred to LBT, WAM. [SB2608 Detail]
Download: Hawaii-2024-SB2608-Introduced.html
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THE SENATE |
S.B. NO. |
2608 |
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THIRTY-SECOND LEGISLATURE, 2024 |
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STATE OF HAWAII |
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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 Statutory material to be repealed is bracketed and stricken.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.
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INTRODUCED
BY: |
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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.
