Chapter 389 — Chapter 389
5 sections in this chapter.
HRS §389-14 Penalties
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§389-14 Penalties. (a) Any covered employer who fails to enroll a covered employee into the program in accordance with section 389-5(e)(1) without equitable justification shall be liable: (b) Any covered employer who fails to timely transmit a covered employee's payroll deduction…
HRS §389-2 Definitions
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§389-2 Definitions. As used in this chapter, unless the context otherwise requires: "Board" means the Hawaii retirement savings board established under section 389-3. "Covered employee" means an individual who: "Covered employee" does not include an individual covered under the f…
HRS §389-4 Hawaii retirement savings board; powers; duties
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§389-4 Hawaii retirement savings board; powers; duties. (a) The board shall have powers and duties in accordance with law to: (C) Make investments for the benefit of the program; provided that no assets of the program shall be transferred to the general fund of the State or to an…
HRS §389-5 Hawaii retirement savings program; due diligence; establishment; payroll deduction
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§389-5 Hawaii retirement savings program; due diligence; establishment; payroll deduction. (a) There is established within the department, for administrative purposes only, a Hawaii retirement savings program. The program shall be administered by the board, in consultation with t…
HRS §389-7 Hawaii retirement savings program; program manager
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§389-7 Hawaii retirement savings program; program manager. (a) The program shall be managed by a program manager that shall be a financial institution with professional knowledge and experience in managing payroll deduction IRAs, contracted by the board in compliance with chapter…