All Roll Calls
Yes: 202 • No: 7
HawaiiSB 8552025–2026 Regular Session (Year 1)SenateWALLET
RELATING TO HAWAII RETIREMENT SAVINGS ACT.
Sponsored By: AQUINO
Signed by Governor
Summary
Clarifies the definition of "covered employer" under the Hawaii Retirement Savings Act. Requires covered employers to automatically enroll covered employees into the Hawaii Retirement Savings Program unless the employee opts out. Repeals the limit on the total fees and expenses that can be spent for the Program each year. (CD1)
DLIRHawaii Retirement Savings ActHawaii Retirement Savings ProgramCovered EmployerDefinitionAutomatic EnrollmentOpt-Out OptionLAB, FIN
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Workers get automatic retirement accounts
The law takes effect July 1, 2025. Automatic enrollment begins on a date set by the board. Covered employers enroll private-sector workers who lack access to an employer retirement plan, and give them written notice of the right to opt out. Workers who stay enrolled have payroll contributions deposited into a Roth individual retirement account. The board can also offer a traditional account instead of, or alongside, a Roth account. Employers must send withheld money as soon as feasible, no later than the 15th day of the next month. Contributions reduce take-home pay.
Retirement plan employers avoid program rules
Employers are excluded from the program’s covered-employer rules if they offered or maintained a qualifying retirement plan for some or all employees at any time in the past two years. Qualifying plans include certain workplace retirement plans and simplified employee pensions.
Workers face possible higher retirement fees
The law removes the annual 0.75% cap on total program fees and expenses, including the exception for the program’s first three years. The program manager must still keep fees and expenses as low as practicable. Account costs may rise, but the law sets no new fee rate and does not require an increase.
Sponsors & Cosponsors
Sponsor
AQUINO
Affiliation unavailable
Cosponsors
Stanley Chang
Democratic • Senate
Kurt Fevella
Republican • Senate
Michelle N. Kidani
Democratic • Senate
Donna Mercado Kim
Democratic • Senate
Sharon Y. Moriwaki
Democratic • Senate
Herbert M. "Tim" Richards III
Democratic • Senate
Glenn Wakai
Democratic • Senate
Roll Call Votes
House vote • 4/30/2025
House Floor Vote
Yes: 48 • No: 2
Senate vote • 4/25/2025
The Conference committee recommends that the measure be PASSED, WITH AMENDMENTS....
Yes: 3 • No: 0
House vote • 4/25/2025
The Conference Committee recommends that the measure be Passed, with Amendments....
Yes: 3 • No: 0
House vote • 4/4/2025
House Floor Vote
Yes: 44 • No: 5
House vote • 4/1/2025
The committee on FIN recommend that the measure be PASSED, UNAMENDED. The votes ...
Yes: 14 • No: 0
House vote • 3/13/2025
Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN...
Yes: 47 • No: 0
House vote • 3/11/2025
The committee on LAB recommend that the measure be PASSED, WITH AMENDMENTS. The ...
Yes: 5 • No: 0
Senate vote • 2/19/2025
Senate Floor Vote
Yes: 22 • No: 0
Senate vote • 2/12/2025
The committee(s) on WAM recommend(s) that the measure be PASSED, UNAMENDED. The...
Yes: 13 • No: 0
Senate vote • 1/29/2025
The committee(s) on LBT recommend(s) that the measure be PASSED, WITH AMENDMENT...
Yes: 3 • No: 0
Actions Timeline
Act 113, 05/29/2025 (Gov. Msg. No. 1213).
5/29/2025SenateAct 113, on 05/29/2025 (Gov. Msg. No. 1213).
5/29/2025HouseReceived notice of passage on Final Reading in House (Hse. Com. No. 821).
5/2/2025SenateEnrolled to Governor.
5/2/2025SenateReceived notice of Final Reading (Sen. Com. No. 888).
5/1/2025HousePassed Final Reading, as amended (CD 1). Ayes, 25; Aye(s) with reservations: none . 0 No(es): none. 0 Excused: none.
4/30/2025SenatePassed Final Reading as amended in CD 1 with none voting aye with reservations; Representative(s) Garcia, Shimizu voting no (2) and Representative(s) Cochran excused (1).
4/30/2025HouseThe Conference committee recommends that the measure be PASSED, WITH AMENDMENTS. The votes of the Senate Conference Managers were as follows: 3 Aye(s): Senator(s) Aquino, Inouye, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.
4/25/2025SenateThe Conference Committee recommends that the measure be Passed, with Amendments. The votes were as follows: 3 Ayes: Representative(s) Sayama, Lee, M., Reyes Oda; Ayes with reservations: none; 0 Noes: none; and 0 Excused: none.
4/25/2025HouseReported from Conference Committee as amended CD 1 (Conf. Com. Rep. No. 144).
4/25/2025Senate48 Hrs. Notice (as amended CD 1) 04-30-25.
4/25/2025SenateReported from Conference Committee (Conf Com. Rep. No. 144) as amended in (CD 1).
4/25/2025HouseForty-eight (48) hours notice Wednesday, 04-30-25.
4/25/2025HouseConference committee meeting to reconvene on 04-25-25 10:15AM; Conference Room 016.
4/24/2025SenateConference committee meeting to reconvene on 04-24-25 10:15AM; Conference Room 016.
4/23/2025SenateConference committee meeting to reconvene on 04-23-25 10:15AM; Conference Room 016.
4/22/2025SenateConference committee meeting to reconvene on 04-22-25 10:16AM; Conference Room 016.
4/21/2025SenateConference committee meeting scheduled for 04-21-25 10:15AM; Conference Room 016.
4/17/2025SenateReceived notice of appointment of House conferees (Hse. Com. No. 731).
4/15/2025SenateSenate Conferees Appointed: Aquino Chair; Inouye Co-Chair; Fevella.
4/15/2025SenateReceived notice of Senate conferees (Sen. Com. No. 789).
4/15/2025HouseHouse Conferees Appointed: Sayama, Lee, M. Co-Chairs; Reyes Oda.
4/14/2025HouseReceived from House (Hse. Com. No. 587).
4/8/2025SenateSenate disagrees with House amendments.
4/8/2025SenateReceived notice of disagreement (Sen. Com. No. 774).
4/8/2025House
Bill Text
Bill Text
Original
SB855_CD1
SB855_HD1
SB855_SD1
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