HB1136

Hawaii HB1136 amends the Hawaii Retirement Savings Act to clarify the definition of "covered employer" and requires automatic enrollment of eligible.

Hawaii HB1136 amends the Hawaii Retirement Savings Act to clarify the definition of "covered employer" and requires automatic enrollment of eligible employees into the state-facilitated payroll-deduction retirement savings program. Employers must automatically enroll employees unless they opt out. Employers failing to enroll employees without justification are liable for penalties. The program aims to encourage participation, saving, and sound investment practices while minimizing costs and promoting portability of benefits.