Haw. Code R. § 14-56-1 - Purpose
(a) Chapter
88F, Hawaii Revised Statutes,
authorizes the board of trustees of the State of Hawaii deferred compensation
plan to establish the State of Hawaii PTS deferred compensation retirement plan
for part-time, temporary, seasonal/casual employees of the State and
participating counties who are not eligible to participate in the State's ERS
or deferred compensation plan under chapter
88E, Hawaii Revised
Statutes.
(b) It is intended that
this plan shall be an "eligible deferred compensation plan" under sections 457
and 3121 of the Code. It is also intended that each eligible employee of the
State or participating county, through his or her participation in this plan,
shall be deemed to be a "member of a retirement system" of a state, political
subdivision, or instrumentality under section 3121(b)(7)(F) of the Code and the
regulations promulgated thereunder.
(c) Except as otherwise provided,
participation in this plan shall be mandatory and the contribution under this
plan shall be in lieu of contributing to social security (a medicare
contribution shall still be required).
(d) Subtitle 6 of title 14, consisting of
chapters
14-56 to 14-61, is adopted by the
board to implement the administration of the plan.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.