STAND. COM. REP. NO.  735

 

Honolulu, Hawaii

                , 2017

 

RE:   H.B. No. 1182

      H.D. 1

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 1182, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE EMPLOYEES' RETIREMENT SYSTEM,"

 

begs leave to report as follows:

 

     The purpose of this measure is to require the Employees' Retirement System (ERS) actuary to conduct an annual stress test of the System and, through the ERS Board of Trustees, to submit an annual report of the test to the Legislature.

 

     The Pew Charitable Trusts supported this measure.  ERS and University of Hawaii Professional Assembly offered comments.  

 

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1182, H.D. 1, and recommends that it pass Third Reading.

 

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

 

 

 

 

____________________________

SYLVIA LUKE, Chair