Hawaii Revised Statutes 88-94 – Withholding of income taxes
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Terms Used In Hawaii Revised Statutes 88-94
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Pension, annuity, and retirement allowance payments from the system shall be subject to income tax withholding requirements as set forth by the federal government; payment of these taxes as withheld shall be the liability of the system. The board of trustees shall adopt rules to administer the purposes of this section.