Hawaii Revised Statutes 88-112 – Annuity savings fund; annual statement
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Terms Used In Hawaii Revised Statutes 88-112
- 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.
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.