STAND. COM. REP. NO.1048

Honolulu, Hawaii

, 2001

RE: H.B. No. 357

H.D. 2

 

 

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Labor, to which was referred H.B. No. 357, H.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO PENSIONERS' SPECIAL COMPENSATION,"

begs leave to report as follows:

The purpose of this measure is to provide special monthly compensation to state and county retirees who are seventy years of age and older and who have at least twenty years of credited service, with compensation adjustments made every five years.

The measure's effective date is set at July 1, 2010, and would be repealed on July 1, of an unspecified year.

The Retirees Unit, Local 152, of the Hawaii Government Employees Association, the Hawaii State Teachers Association, and the Oahu Retired Teachers Association testified in support of the measure. The Department of Budget and Finance opposed the measure. The Employees' Retirement System submitted comments.

Your Committee finds that the special compensation is to be calculated by multiplying $1.25 per month by the number of years in service for those aged seventy and above, rising incrementally every five years with a progressively larger special compensation for those who have been retired the longest.

Your Committee believes that this measure will assist retirees living on fixed income to cope with the rising costs of living in Hawaii.

As affirmed by the record of votes of the members of your Committee on Labor that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 357, H.D. 2, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Labor,

____________________________

BOB NAKATA, Chair