Hawaii Revised Statutes
87A. Hawaii Employer-Union Health Benefits Trust Fund
87A-42 Other post-employment benefits trust.

§87A-42 Other post-employment benefits trust. [Repeal and reenactment on June 30, 2023. L 2021, c 229, §9.] Notwithstanding sections 87A-31 and 87A-31.5, the board, upon terms and conditions set by the board, shall establish and administer a separate trust fund for the purpose of receiving employer contributions that will prefund other post-employment health and other benefit plan costs for retirees and their beneficiaries. The separate trust fund shall meet the requirements of the Governmental Accounting Standards Board regarding other post-employment benefits trusts. The board shall establish and maintain a separate account for each public employer within the separate trust fund to accept and account for each public employer's contributions. Employer contributions to the separate trust fund shall be irrevocable, all assets of the fund shall be dedicated exclusively to providing health and other benefits to retirees and their beneficiaries, and assets of the fund shall not be subject to appropriation for any other purpose and shall not be subject to claims by creditors of the employers or the board or plan administrator. The board's powers under section 87A-24 shall also apply to the fund established pursuant to this section. [L 2012, c 304, §1; am L 2013, c 268, §8; am L 2015, c 121, §4; am L 2020, c 70, §2; am L 2021, c 229, §3 superseding am L Sp 2021, c 1, §8]
Note
Authorization to create fund requires Government Accounting Standards Board requirements. L 2012, c 304, §2.
Public employer contributions into trust fund (fiscal period 2014-2019). L 2013, c 268, §11.

Structure Hawaii Revised Statutes