Bill > HB2277

This bill amends existing law to adjust the percentage of employee compensation that employers must contribute to the Employees' Retirement System of the State of Hawaii, specifically for "normal cost" (the cost of benefits earned by employees in the current year) and "accrued liability" (the cost of benefits earned in past years that haven't been fully funded). The changes, which take effect on July 1, 2026, increase these employer contribution rates for two groups of employees: police officers, firefighters, and corrections officers will see their employers contribute 44% of their compensation, while all other employees will have their employers contribute 24% of their compensation. These adjusted rates are intended to ensure that the system's unfunded accrued liability, which represents the system's debt from past underfunding, is paid off within a maximum funding period, and these rates are subject to adjustments based on actuarial investigations and whether the unfunded liability is being amortized (paid off over time) within the allowed period.

Labor and Employment

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=2277&year=2026