Hawaii SB1401 modifies retirement eligibility and benefits for employees in the Employees' Retirement System.

Hawaii SB1401 amends the Employees' Retirement System to reduce the minimum years of credited service required for vested benefit status from ten to five years for certain members. It also adjusts the retirement eligibility criteria for different classes of members, including those who became members before July 1, 2012, and those who became members after June 30, 2012. The bill specifies conditions under which accumulated contributions are returned to former members and outlines the process for re-enrollment and benefit eligibility upon return to service.

Hawaii SB1401 modifies retirement eligibility and benefits for employees in the Employees' Retirement System.

Hawaii SB1401 amends the Employees' Retirement System to reduce the minimum years of credited service required for vested benefit status from ten to five years for certain members. It also adjusts the retirement eligibility criteria for different classes of members, including those who became members before July 1, 2012, and those who became members after June 30, 2012. The bill specifies conditions under which accumulated contributions are returned to former members and outlines the process for re-enrollment and benefit eligibility upon return to service.