HB1082

Hawaii HB1082 modifies retirement eligibility for employees in the Employees' Retirement System.

Hawaii HB1082 amends the eligibility criteria for retirement benefits in the Employees' Retirement System. It reduces the minimum years of credited service required for Tier 2 members to be eligible for vested benefit status from ten years to five years. This change applies to members who became members after June 30, 2012, and who are in service as of July 1, 2027, or who return to service after June 30, 2027. The bill also adjusts employer contributions to offset the increased liability from these changes.