§88F-1 Definitions. As used in this chapter, unless the context clearly indicates otherwise: “County” means the counties of Honolulu, Hawaii, Kauai, and Maui. “Employee” means a part-time, temporary, seasonal or casual employee, as defined by rules of the board of trustees, who is not eligible to participate in the employees’ retirement system of the State […]
§88F-10 Deferred amounts as compensation. Any compensation deferred pursuant to a plan established under this chapter shall be deemed regular compensation, but shall not be included in the computation of federal income taxes withheld on behalf of any participating employee. [L 1996, c 212, pt of §2]
§88F-11 Costs of the plan. Costs for implementing and administering the plan shall be borne by the plan and its participants, except for incidental expenses, such as the cost of payroll deductions and the routine processing of forms. [L 1996, c 212, pt of §2]
§88F-12 County deferred compensation retirement plan for part-time, temporary, and seasonal or casual employees. A county may enter into a formal agreement with the State to extend the State’s deferred compensation retirement plan and its provisions to part-time, temporary, and seasonal or casual employees of the county or establish a deferred compensation retirement plan independently […]
§88F-13 Existing retirement and deferred compensation plans. This chapter shall not affect any existing retirement or deferred compensation plans established under section 457 of the Internal Revenue Code of 1986, as amended, or chapter 88E. [L 1996, c 212, pt of §2]
§88F-2 State deferred compensation retirement plan for state and county part-time, temporary, and seasonal or casual employees. The State may establish a deferred compensation retirement plan in accordance with sections 457 and 3121 of the Internal Revenue Code of 1986, as amended, for the benefit of employees to defer a portion of their compensation to […]
§88F-3 Board of trustees. (a) The authority to establish the plan and implement this chapter is vested in the board of trustees which currently administers the state deferred compensation plan under chapter 88E. (b) The board shall adopt, in accordance with chapter 91, rules necessary to implement this chapter; provided that rules necessary for the […]
§88F-4 Compensation and expenses. Each trustee shall serve without compensation but shall be reimbursed by the plan for any necessary expense incurred in the performance of the trustee’s duties pertaining to the plan. [L 1996, c 212, pt of §2]
§88F-5 Legal adviser. The attorney general shall be the legal adviser of the board. [L 1996, c 212, pt of §2]
§88F-6 Deferred funds. Sums deferred under the plan, as well as property and rights purchased with the amounts and income attributable to the amounts, shall be held in trust outside the state treasury in accordance with section 457 of the Internal Revenue Code of 1986, as amended, for the exclusive benefit of participants and their […]
§88F-7 Investments. (a) The board may create a trust or other special funds for the segregation of funds or assets resulting from compensation deferred and for the administration of the plan. (b) Participating employees shall invest their deferred compensation in the investment products permitted under the plan; provided that the investment products shall be provided […]
§88F-8 REPEALED. L 2000, c 253, §138.
§88F-9 Limitation on liability. The State or county shall not be liable for the sums deferred or the results of any investment product. [L 1996, c 212, pt of §2]
