Hawaii Revised Statutes 88F-2 – State deferred compensation retirement plan for state and county part-time, temporary, and seasonal or casual employees
Current as of: 2024 | Check for updates
|
Other versions
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 a future period of time. Participation in the plan shall be mandatory, with a mandatory payroll deduction by the employee equal to seven and five-tenths per cent of the employee’s gross monthly wages, which shall be contributed to the plan. A county may enter into a formal agreement with the State to extend the State’s plan and its provisions to part-time, temporary, and seasonal or casual employees of the county; provided that:
Terms Used In Hawaii Revised Statutes 88F-2
- County: means the counties of Honolulu, Hawaii, Kauai, and Maui. See Hawaii Revised Statutes 88F-1
- 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 under chapter 88. See Hawaii Revised Statutes 88F-1
- State: means the State of Hawaii. See Hawaii Revised Statutes 88F-1