Employees' Retirement System of the State of Hawaii

Overview

Established in 1925, the Employees' Retirement System (ERS) of the State of Hawaii is a public pension fund that offers retirement, disability, survivor, and other benefits to eligible full-time and part-time state and county employees, as well as their beneficiaries. The ERS is governed by a Board of Trustees, with certain administrative responsibilities vested in the State Department of Budget and Finance. Funding for benefit payments comes from employer and member contributions, along with investments managed by the ERS. The ERS administers benefits for service retirement, disability, and survivor benefits for employees of the State of Hawaii, the City and County of Honolulu, County of Hawaii, County of Maui, and County of Kauai, including teachers, professors, police officers, firefighters, judiciary employees, judges, and elected officials. The system collects retirement contributions from members, provides pre-retirement counseling services, conducts disability hearings and appeals, reviews claims for retirement, disability, and death benefits, and certifies these benefits for payments. Additionally, the ERS processes monthly pension checks to retirees and beneficiaries, accounts for and safeguards assets in its investment portfolio, and invests funds to help finance the program. The ERS offers three retirement plans: a contributory plan, a non-contributory plan, and a hybrid plan. The hybrid plan, effective July 1, 2006, requires most new hires to join. The system is committed to ensuring the financial security of its members by effectively managing its investment portfolio and providing comprehensive benefits and services.