SB442

Allows certain retirees to return to work without losing benefits if they fill labor shortage positions.

This bill amends Hawaii's employees' retirement system to allow certain retirees to return to work without losing benefits if they fill labor shortage positions. Specifically, retirees can be reemployed in positions identified as labor shortages or difficult-to-fill positions by the appropriate jurisdiction. The bill also requires contributions to the pension accumulation fund to amortize the system's unfunded actuarial accrued liability. The changes take effect on July 1, 2025.