reglab/housing_qa huggingface dataset:
HI Rev Stat § 88-106 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-106 Correction of errors.

  §88-106 Correction of errors. Should any change or error in records result in any member, retirant, or beneficiary receiving from the system more or less than the member, retirant, or beneficiary would have been entitled to receive had the records been correct, the board of trustees shall correct the error and as far as practicable, shall adjust the payments in such a manner that the actuarial equivalent of the benefit to which the member, retirant, or beneficiary was correctly entitled shall be paid. Should any error in calculation or records result in any member, retirant, or beneficiary receiving from the system more than the member, retirant, or beneficiary would have been entitled to receive had the calculation or records been correct, the board of trustees shall correct the error and shall recover any such overpayment unless recovery is waived pursuant to procedures adopted under section 88-6. [L 1925, c 55, §13; RL 1935, §7932; RL 1945, §717; RL 1955, §6-57; HRS §88-96; am L 1969, c 110, pt of §1; gen ch 1985; am L 1986, c 95, §1; am L 2019, c 53, §3]
HI Rev Stat § 88-106.5 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-106.5 Compromise and settlement

  §88-106.5 Compromise and settlement. The board may compromise or settle any claim for benefits under this chapter; provided that, if the compromise or settlement would result in a person receiving benefits that the person would not otherwise, as a matter of law, be entitled to receive, the compromise or settlement shall be subject to the approval of the attorney general and may be made only if:  (1) The settlement or compromise relates to or arises out of a representation made to a member concerning the member's eligibility for benefits under this chapter;  (2) The representation:  (A) Was made in writing by an employee of the system with authority to make representations on behalf of the system as to amounts of and eligibility for benefits under this chapter; and  (B) Was erroneous as to the amount or class of credited service to which the member was entitled;  (3) The member, in good faith and reasonable reliance on the representation, retired or terminated the member's status as an employee or the member's membership in the system; and  (4) The settlement or compromise will prevent manifest injustice. [L 2005, c 57, §1]
HI Rev Stat § 88-107 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-107 Interest.

  §88-107 Interest. (a) The board of trustees shall annually allocate the interest and other earnings of the system to the funds of the system, as follows:  (1) The annuity savings fund shall be credited with the amount of regular interest credited to members' accounts;  (2) The expense fund shall be credited with such sums as provided in section 88-116; and  (3) The remaining investment earnings, if any, shall be credited to the pension accumulation fund.  (b) Beginning with actual investment earnings in fiscal year 1995 in excess of the investment yield rate, to address outstanding unfunded pension obligations, ten per cent of such excess earnings shall be deposited in the pension accumulation fund; remaining excess earnings shall be applied to the amounts to be contributed under section 88-123. In fiscal year 1996, twenty per cent of the actual investment earnings in excess of the investment yield rate shall be deposited in the pension accumulation fund; remaining excess earnings shall be applied to the amount contributed under section 88-123. In fiscal years 1997 and 1998, actuarial investment earnings in excess of a ten per cent actuarial investment yield rate shall be applied to the amount contributed under section 88-123. Beginning in fiscal year 1999, one hundred per cent of the investment earnings shall be deposited in the pension accumulation fund.  (c) The application of actuarial investment earnings to the amount contributed under section 88-123 for fiscal years 1997 and 1998 as provided in subsection (b) is a one-time only provision and no law shall be enacted to again require the employees' retirement system to apply actuarial investment earnings to offset the amount contributed under section 88-123. [L 1925, c 55, pt of §7; am imp L 1927, c 251, §4; am imp L Sp 1933, c 10, §1; RL 1935, pt of §7926; am imp L 1935, c 48, §2; RL 1945, §711, subs 1; RL 1955, §6-78; am L 1963, c 127, §15; am L 1965, c 222, §12; HRS §88-97; am L 1969, c 110, pt of §1; am L 1984, c 23, §1; am L 1988, c 41, §4; am L 1994, c 276, §6; am L 1997, c 327, §2; am L 1999, c 100, §1]
HI Rev Stat § 88-108 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-108 Cash for meeting disbursements.

 §88-108 Cash for meeting disbursements. For the purpose of meeting disbursements for retirement allowances, pensions, annuities and other payments, there may be kept available cash, not exceeding ten per cent of the total amount in the several funds of the system, on deposit in any one or more banks or trust companies of the State, organized under the laws thereof or of the United States. The sum on deposit in any one bank or trust company shall not exceed twenty-five per cent of the paid up capital and surplus of the bank or trust company. [L 1925, c 55, pt of §7; RL 1935, pt of §7926; RL 1945, §711, subs 3; RL 1955, §6-79; HRS §88-98; am L 1969, c 110, pt of §1]
HI Rev Stat § 88-109 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-109 Funds of the system.

 §88-109 Funds of the system. The assets of the system are assigned to the following funds hereby created:  (1) The annuity savings fund;  (2) The pension accumulation fund; and  (3) The expense fund. [L 1925, c 55, pt of §8; RL 1935, pt of §7927; RL 1945, pt of §712; RL 1955, §6-72; am L 1961, c 175, §8; am L 1963, c 127, §14; HRS §88-99; am L 1969, c 110, pt of §1; am L 1974, c 220, §4; am L 1988, c 41, §5; am L 1998, c 151, §16]
HI Rev Stat § 88-110 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-110 Board; trustees of funds.

 §88-110 Board; trustees of funds. The board of trustees shall be trustees of the several funds of the system and may invest and reinvest such funds as authorized by this part and by law from time to time provided. Subject to the terms, conditions, limitations and restrictions of this part and by law from time to time provided, the trustees may hold, purchase, sell, assign, transfer or dispose of any of the securities and investments in which any of the funds created herein shall have been invested, as well as of the proceeds of the investments and any moneys belonging to the funds. [L 1925, c 55, pt of §7; RL 1935, pt of §7926; am L 1939, c 5, pt of §1; RL 1945, §710, subs 1; RL 1955, §6-74; HRS §88-100; am L 1969, c 110, pt of §1] Attorney General Opinions  Trustees may not waive penalty for prepayment of loan. Att. Gen. Op. 62-22. Case Notes  Mentioned: 74 H. 181, 840 P.2d 367.
HI Rev Stat § 88-111 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-111 Custodian of the funds.

 §88-111 Custodian of the funds. The State director of finance shall be the custodian of the several funds. All payment from the funds shall be made by the director of finance only upon vouchers signed by the chairperson and countersigned by such other person as may be designated by the board of trustees. [L 1925, c 55, pt of §7; RL 1935, pt of §7926; RL 1945, pt of §711; RL 1955, §6-73; am L Sp 1959 2d, c 1, §14; am L 1963, c 114, §1; HRS §88-101; am L 1969, c 110, pt of §1; gen ch 1985, 1993]
HI Rev Stat § 88-112 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-112 Annuity savings fund; annual statement.

 §88-112 Annuity savings fund; annual statement. The annuity savings fund shall be comprised of the members' accumulated contributions, which beginning July 1, 1988, shall include any contributions made by the member to the post retirement fund. A member shall be mailed an annual statement showing the member's accumulated contributions upon request therefor. [L 1925, c 55, pt of §8; RL 1935, pt of §7927; RL 1945, pt of §712, subs 1; RL 1955, §6-81; am L 1959, c 174, §1; HRS §88-102; am L 1969, c 110, pt of §1; gen ch 1985; am L 1988, c 41, §6]
HI Rev Stat § 88-113 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-113 Payments from annuity savings fund.

 §88-113 Payments from annuity savings fund. Any lump sum payment of a member's contributions shall be charged against the annuity savings fund. When a member retires, the member's accumulated contributions shall be transferred from the annuity savings fund to the pension accumulation fund. [L 1925, c 55, pt of §8; RL 1935, pt of §7927; RL 1945, pt of §712, subs 1; RL 1955, §6-85; am L 1963, c 127, §18; HRS §88-103; am L 1969, c 110, pt of §1; gen ch 1985]
HI Rev Stat § 88-114 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-114 Pension accumulation fund.

 §88-114 Pension accumulation fund. The pension accumulation fund shall be the fund in which shall be accumulated all contributions made by the State and any county and all income from investments and from which shall be paid all benefits, including the bonus authorized under section 88-11, and other than those benefits which are specifically payable from other funds. [L 1925, c 55, §8(3); am imp L 1927, c 251, §4; RL 1935, pt of §7927; RL 1945, pt of §712, subs 3; RL 1955, §6-87; am L 1963, c 127, §19; HRS §88-104; am L 1969, c 110, pt of §1; am L 1994, c 276, §7]
HI Rev Stat § 88-115 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-115 REPEALED.

 §88-115 REPEALED. L 1988, c 41, §8.
HI Rev Stat § 88-115.5 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-115.5 REPEALED. L 1998, c 151, §18.

 §88-115.5 REPEALED. L 1998, c 151, §18.
HI Rev Stat § 88-116 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-116 Expense fund.

 §88-116 Expense fund. The expense fund shall be the fund to which shall be credited all money to pay the administration expenses of the system, and from which shall be paid all the expenses necessary in connection with the administration and operation of the system. Biennially, the board of trustees shall estimate the amount of money necessary to be paid into the expense fund during the ensuing biennium to provide for the expense of operation of the system, and shall pay that amount into the expense account from the investment earnings of the system, subject to review by the legislature and approval by the governor. [L 1925, c 55, §8(5); am imp L 1927, c 251, §4; RL 1935, pt of §7927; RL 1945, §712, subs 5; RL 1955, §6-96; am L Sp 1959 1st, c 13, §2; HRS §88-107; am L 1969, c 110, pt of §1; am L 1994, c 276, §8]
HI Rev Stat § 88-117, 118 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-117, 118 REPEALED.

 § §88-117, 118 REPEALED. L 1998, c 151, § §19, 20.
HI Rev Stat § 88-119.5 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-119.5 Investment guidelines.

 §88-119.5 Investment guidelines. Notwithstanding any other law to the contrary, real estate loans and mortgages made pursuant to section 88-119(1)(D) and (E) shall be in accordance with conditions and restrictions set forth by the board of trustees; provided that the board may establish the minimum and maximum loan amounts and interest rates for these real estate loans and mortgages by motion, at any duly noticed meeting of the board. The board of trustees, subject to chapter 91, shall adopt, amend, and repeal rules having the force of and effect of law to implement all provisions of this section other than those relating to loan amounts and interest rates for its real estate loans and mortgages. [L 1982, c 165, §3; am L 1991, c 17, §2; am L 1998, c 151, §22]
HI Rev Stat § 88-120 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-120 Service charges.

 §88-120 Service charges. The board of trustees may pay out of any of the several funds held for investment, a reasonable amount to any person for servicing and handling of mortgages purchased by the board or for supplying investment advisory or consultative services; and to meet such other costs incident to the prudent investment of system funds as the board may approve. [L 1925, c 55, pt of §7; RL 1935, pt of §7926; am L 1939, c 5, pt of §1; RL 1945, §710, subs 3; RL 1955, §6-76; HRS §88-111; am L 1969, c 110, pt of §1]
HI Rev Stat § 88-121 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-121 Power to make agreements to protect securities on reorganization or otherwise.

 §88-121 Power to make agreements to protect securities on reorganization or otherwise. Anything in this part to the contrary notwithstanding, the board of trustees may enter into an agreement or agreements for the purpose of protecting the interests of the system in securities held by the system, or for the purpose of reorganization of a corporation which issued securities so held, and deposit of securities thereunder with a committee or depositories appointed under the agreement, but the agreement and deposit must first be approved in writing by a majority of the members of the board with a statement of their reasons for such approval. The board may accept corporate stock or bonds or other securities, which may be distributed pursuant to any such agreement approved as aforesaid or to any plan or reorganization approved in writing by a majority of the members of the board with a statement of their reasons for such approval. But if securities so received consist in whole or in part of stock in any corporation or of bonds or obligations which are not secured by adequate collateral security or where less than two-thirds of the total value of the required collateral security therefor consist of collateral other than stock, then any stock and any such bond or obligation so received shall be disposed of within five years from the time of acquisition or before expiration of such further period or periods of time as may be fixed in writing for that purpose by the governor. [L 1925, c 55, pt of §7; RL 1935, pt of §7926; am L 1935, c 156, §2; RL 1945, §710, subs 4; RL 1955, §6-77; HRS §88-112; am L 1969, c 110, pt of §1]
HI Rev Stat § 88-123 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-123 Amount of annual contributions by the State and counties.

  §88-123 Amount of annual contributions by the State and counties. The contribution payable in each year to the pension accumulation fund by the State and by each county shall be determined by allocating the sum of the normal cost and the accrued liability contribution for:  (1) Police officers, firefighters, and corrections officers, the latter after the actual transfer of all county jails pursuant to executive order of the governor; and  (2) All other employees in the same proportion as the aggregate annual compensation of each group employed by the State and by each county, respectively, as of March 31 of the valuation year. Commencing with fiscal year 2005-2006, the contribution payable in each year to the pension accumulation fund by the State and each county, respectively, shall be determined by multiplying the contribution rates in section 88-122(e) by the actual covered payroll in a given fiscal year for each of the two groups of employees in section 88-122(a). [L 1925, c 55, pt of §8; am imp L 1927, c 251, §4; am L 1933, c 181, §3; am L Sp 1933, c 10, § §2, 3; RL 1935, pt of §7927; am L 1935, c 48, § §2, 4; RL 1945, pt of §712, subs 3; RL 1955, §6-91; am L 1964, c 62, §13; HRS §88-114; am L 1969, c 110, pt of §1; am L 1977, c 171, §3; am L 1983, c 124, §15; am L 1997, c 327, §4; am L 2004, c 181, §3] Cross References  Trustees to submit estimates of amount due from county, see §248-3.
HI Rev Stat § 88-124 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-124 Payment of state contributions to the system.

  §88-124 Payment of state contributions to the system. (a) The State shall pay to the various funds of the system the amounts payable by the State under this part. Payments shall be made:  (1) On a monthly basis, within thirty days after the end of each month; or  (2) In advance, in an amount greater than the amount payable for the current fiscal quarter, taking into account amounts previously paid during the quarter and any offsets for any excess contributions in the previous quarter.  (b) The system shall determine the actual amount owed by the State under this part for each fiscal quarter, commencing with the first fiscal quarter of fiscal year 2005-2006. The actual amounts owed by the State for the fiscal quarter shall be compared against the amounts paid in the fiscal quarter and any excess contributions from the previous quarter. Any additional contributions owed by the State for a fiscal quarter shall be paid before the end of the next fiscal quarter. Any excess contributions by the State may be used to offset amounts owed by the State for the next fiscal quarter. [L 1925, c 55, pt of §8; am L Sp 1933, c 10, §3; RL 1935, pt of §7927; am L 1935, c 48, §2; RL 1945, §712, subs 6; RL 1955, §6-100; am L Sp 1959 1st, c 13, §2; HRS §88-115; am L 1969, c 110, pt of §1; am L 2004, c 181, §4; am L 2005, c 58, §15; am L 2016, c 31, §1]
HI Rev Stat § 88-125 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-125 Contributions by certain state agencies.

  §88-125 Contributions by certain state agencies.  (a) Each of the departments and agencies hereinafter described, the office of Hawaiian affairs, and the Hawaii health systems corporation shall reimburse the State for the respective amounts payable by the State to cover the liability of the State to the various funds of the system on account of the employees in the departments and agencies, the trustees of the office of Hawaiian affairs, and the employees of the Hawaii health systems corporation. This provision shall apply to any department or agency of the State that is authorized by law to fix, regulate, and collect rents, rates, fees, or charges of any nature. This subsection shall not apply as to rental units receiving federal subsidies until approval has been obtained from the appropriate federal agency.  (b) Whenever any department or agency of the State or the Hawaii health systems corporation receives federal-aid funds that may be expended for the purpose of covering the liability of the State to the various funds of the system, the department or agency or the Hawaii health systems corporation shall set aside a portion of these funds sufficient to cover the amount of the State's liability to the various funds of the system on account of the employees in the department or agency or the Hawaii health systems corporation whose compensation is paid in whole or part from federal funds.  (c) The amount payable by each department or agency of the State, the office of Hawaiian affairs, or the Hawaii health systems corporation, covered by this section shall be determined at least quarterly by the department of budget and finance on the basis of the payroll of the employees of the department or agency, trustees of the office of Hawaiian affairs, or the Hawaii health systems corporation who are members of the system in the same manner the allocation of employer contributions is determined in section 88-123. The comptroller of the State, the office of Hawaiian affairs, the Hawaii health systems corporation, or any department or agency having control of its own funds, upon information furnished by the department of budget and finance, shall issue a check for the proper amount to the director of finance, charging the same to the appropriate fund. The director of finance shall place all such sums to the credit of the State as part payment of the State's contributions to the various funds of the system.  (d) With respect to the Hawaii health systems corporation only, this section shall be operative with respect to costs accrued beginning July 1, 1996. [L 1951, c 245, § §1, 2, 3; RL 1955, §6-101; am L Sp 1959 2d, c 1, §26; am L 1965, c 222, §16; HRS §88-116; am L 1969, c 110, pt of §1; am L 2002, c 183, §8; am L 2004, c 181, §5; am L 2009, c 182, §4]
HI Rev Stat § 88-126 (2021)
2021 Hawaii Revised Statutes|Title 7. Public Officers and Employees|88. Pension and Retirement Systems|88-126 Payment of county contributions to the system.

  §88-126 Payment of county contributions to the system. (a) Commencing with fiscal year 2005-2006, each of the counties shall make contributions in accordance with section 88-123. The amounts payable under this part by each county on account of its employees who are members of the system shall be paid by the county as follows:  (1) Before October 31, 2005, for the period from July 1, 2005, through September 30, 2005;  (2) Commencing October 1, 2005, each county shall pay on a monthly basis the amounts payable by the county under this part on account of its employees who are members of the system. Payments shall be made within thirty days after the end of the month; and  (3) Commencing July 1, 2016:  (A) On a monthly basis, within thirty days after the end of each month; or  (B) In advance, in an amount greater than the amount payable for the current fiscal quarter, taking into account amounts previously paid during the quarter and any offsets for any excess contributions in the previous quarter.  (b) The system shall determine the actual amount owed by a county under this part for each fiscal quarter, beginning with the first fiscal quarter of fiscal year 2005-2006. The actual amounts owed by the county for the fiscal quarter shall be compared against the amounts paid in the fiscal quarter and any excess contributions from the previous quarter. Any additional contributions owed by the county for a fiscal quarter shall be paid before the end of the next fiscal quarter. Any excess contributions by the county may be used to offset amounts owed by the county for the next fiscal quarter.  (c) If the amount or any portion of the amounts owed is not paid by the county before the dates specified in subsection (a), the director of finance shall retain out of the transient accommodations tax money collected a sum equal to the amount or portion thereof not so paid. All the moneys retained and collected by the director of finance shall be deposited in the appropriate fund or funds of the system. The amount of any deficiency in meeting the obligations shall be added to the amount due from the county for the succeeding quarter. [L 1925, c 55, §8; am imp L 1927, c 251, §4; am imp L 1929, c 182, §1; am imp L 1932 2d, c 50, §1; am L 1933, c 181; am L Sp 1933, c 10, § §2, 3; RL 1935, §7927; am L 1935, c 48, § §2, 4; am L Sp 1941, c 67, §1; RL 1945, pt of §712; RL 1955, §6-102; am L 1957, c 152, §1; am L Sp 1959 2d, c 1, § §12, 14; am L 1963, c 114, §1; HRS §88-117; am L 1969, c 110, pt of §1; am L 1994, c 138, §2; am L 1998, c 151, §17; am L 2004, c 181, §6; am L 2005, c 58, §16; am L 2016, c 31, §2]