SB 1028 Relating To Retirement Savings

About SB-1028

Requires the legislative reference bureau to conduct a feasibility study to determine the feasibility of establishing a Hawaii retirement savings program. Subject to a positive finding in the feasibility study, establishes the Hawaii retirement savings board to establish, implement, and maintain the Hawaii retirement savings program to cover private sector employees who are not provided a retirement savings plan by their employers. Appropriates funds to the legislative reference bureau to conduct a market analysis. Prohibits employers that offer retirement savings plans or programs to employees from canceling these plans or programs for an unspecified number of years after July 1, 2019.