Adjusts employer contributions for normal cost and accrued liability for Hawaii's Employees' Retirement System.

The bill modifies the employer contributions for normal cost and accrued liability under Hawaii's Employees' Retirement System. It sets specific contribution rates for different fiscal years, affecting police officers, firefighters, corrections officers, and other employees. The rates are designed to amortize the total unfunded accrued liability over a certain period. Adjustments can be made based on actuarial investigations or if the actual amortization period exceeds the maximum funding period.

Adjusts employer contributions for normal cost and accrued liability for Hawaii's Employees' Retirement System.

The bill modifies the employer contributions for normal cost and accrued liability under Hawaii's Employees' Retirement System. It sets specific contribution rates for different fiscal years, affecting police officers, firefighters, corrections officers, and other employees. The rates are designed to amortize the total unfunded accrued liability over a certain period. Adjustments can be made based on actuarial investigations or if the actual amortization period exceeds the maximum funding period.