Saturday, December 15, 2018
Hawai'i Free Press

Current Articles | Archives

Friday, July 27, 2018
How to resolve Hawaii’s public pension debt crisis
By Grassroot Institute @ 3:33 PM :: 2360 Views :: Hawaii State Government, Labor, Taxes

Grassroot Institute to release report on how to fix pension crisis

The independent, nonprofit think tank will debut its findings July 31 at a presentation on Maui

UPDATE Aug 1, 2018: Grassroot Institute releases report on fixing pension debt crisis

News Release from Grassroot Institute

HONOLULU, July 26, 2018 >> The Grassroot Institute of Hawaii will release a new report on Tuesday, July 31, about how to bring under control the unfunded liabilities of Hawaii’s public pension system, conservatively estimated at almost $13 billion.

The report, “How to Resolve Hawaii’s public pension crisis,” will be presented during a luncheon at the Maui Country Club in Paia, and made available as well through the Grassroot Institute’s website, at grassrootinstitute.org.

Keli‘i Akina, president of the Grassroot Institute, said the unfunded liabilities of the Hawaii Employees’ Retirement System (ERS) could jeopardize the retirement benefits of Hawaii’s public employees and impose a significant burden on Hawaii taxpayers.

“Our public pension fund is only 54 percent funded, which means that it’s half empty,” Akina said. “If the state were to renege on its pension promises, it wouldn’t go down well with the many government employees who suddenly would have their retirement benefits eliminated or reduced.”

Akina said the new report “looks at many states that have fixed their pension debt problems through best practices, such as the creation of a new pension plan.”

According to the Grassroot Institute’s report, a new Hawaii public pension plan could:

>> Provide more flexibility to alter employee and employer contribution rates, depending on the recommendation of the pension plan actuary.

>> Protect against pension spiking.

>> Cap benefits at reasonable levels.

>> Eliminate overtime and vacation pay when calculating benefits for current hires for service yet to be rendered.

>> Base benefits on the amount of money contributed toward the plan.

“By creating a new pension system based on best practices from other state,” Akina said, “Hawaii’s lawmakers could take a step toward helping the ERS match its promised retirement benefits with employee contributions, helping roll back the system’s — and thereby the state’s — unfunded public pension liabilities.”

###

The Grassroot Institute of Hawaii is an independent, 501(c)(3) nonprofit research and educational institution devoted to promoting individual liberty, economic freedom and accountable government.

  *   *   *   *   *

How to resolve Hawaii’s public pension debt crisis

From Grassroot Institute

The Grassroot Institute of Hawaii is releasing a new report that outlines how policymakers could resolve Hawaii’s financially dangerous public pension crisis.

The “crisis” is that the state Employees’ Retirement System is facing unfunded liabilities of almost $13 billion, equal to 46 percent of its benefits obligations — a huge risk for Hawaii’s current and retired state and county government employees, as well as for Hawaii’s already-beleaguered taxpayers.

The report, “How to resolve Hawaii’s public pension debt crisis,” points the way toward bringing the state benefits program back into balance, and will be discussed by Keli‘i Akina, Ph.D., president and CEO of the Grassroot Institute of Hawaii, and Joe Kent, the institute’s vice president of research.

Join us for this special presentation, and pick up a copy of the report at the event. Admission is $10 and includes light pupus and sandwiches.

For more information, please call (808) 591-9193 or e-mail info@grassrootinstitute.org.

DATE AND TIME

LOCATION

  • Maui Country Club
  • 48 Nonohe Place
  • Paia, HI 96779
  • View Map

LINK >>> $10 TICKETS HERE

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

808 State Update AM940

ABCDEFG Blog

ACA Signups Hawaii

ACCE

Affordable Hawaii Coalition

ALEC

Alliance Defending Freedom

Aloha Conservative Alliance

Aloha Life Advocates

Aloha Pregnancy Care Center

American Council of Trustees and Alumni

American Mothers of Hawaii

AMVETS-Hawaii

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Audit The Rail

Ballotpedia Hawaii

Better Hawaii 

Blaisdell Memorial Project

Broken Trust

CAFR Hawaii

Castaway Conservative

Children's Alliance Hawaii

Children's Rights Institute

Christian Homeschoolers of Hawaii

Citizens for Recall

Cliff Slater's Second Opinion

Coffee Break

Conservative Forum for Hawaii

CSIS Pacific Forum

DAR Hawaii

DeedySupport.com

DVids Hawaii

E Hana Kakou Kelii Akina

E Māua Ola i Moku o Keawe

Farmers For Choice Hawaii

FIRE

Fix Oahu!

Follow the Money Hawaii

Frank in Hawaii

Front Page Magazine

Frontline: The Fixers

Genetic Literacy Project

Get Off Your Butts!

God, Freedom, America

Grassroot Institute

Habele.org

Hawaii Aganst Assisted Suicide

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii Coalition Against Legalized Gambling

Hawaii ConCon Info

Hawaii Credit Union Watch

Hawaii Crime Victims' Rights

Hawaii Crop Improvement Association

Hawaii Debt Clock

Hawaii Defending Marriage

Hawaii Defense Foundation

Hawaii Families for Educational Choice

Hawaii Family Advocates

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii Firearm Community

Hawaii Fishermen's Alliance

Hawaii Future Project

Hawaii Gathering of Eagles

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii March for Life

Hawaii Meth Project

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Right to Life -- Big Island

Hawaii Right to Life -- Oahu

Hawaii Senate Informer

Hawaii Shield Law Coalition

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

Heritage Foundation

HI Coalition Against Legalized Gambling

HIEC.Coop

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Homeless Crisis

Honolulu Navy League

Honolulu Traffic

Horns of Jericho Blog

House Minority Blog

House Republican Caucus YouTube

HPACC

Hump Day Report

Hunting, Farming and Fishing Assoc.

I Vote Hawaii

If Hawaii News

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

Iowa Meets Maui

Jackson v Abercrombie

Jihad Watch

Judgepedia Hawaii

July 4 in Hawaii

Kahle v New Hope

Kakaako Cares

Kau TEA Party

Kauai Co GOP

Keep Hawaii's Heroes

KeyWiki

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Malulani Foundation

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Mauna Kea Recreational Users Group

MentalIllnessPolicy.org

Middle East Forum--The Legal Project

Mililani Conservatives for Change

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

Muslim Brotherhood in America

NAMI Hawaii

NARTH

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

National Wind Watch

New Zeal

NFIB Hawaii News

No GMO Means No Aloha

Northwest Economic Policy Seminar

Not Dead Yet, Hawaii

Now What I Really Think

NRA-ILA Hawaii

Oahu Alternative Transport

ObamaCare Abortion Hawaii

OHA Lies

Ohana Policy Group

OurFutureHawaii.com

Pacific Aviation Museum

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Pritchett Cartoons 

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

Republican Party -- Hawaii State

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

Salvage The Rail

Save the Plastic Bag

School Choice in Hawaii

SenatorFong.com

SIFE Remington

SIFE W. Oahu 

Sink the Jones Act

Smart About Marijuana--Hawaii

St Marianne Copenull

State Budget Solutions Hawaii

State Policy Network

Statehood for Guam

Tax Foundation of Hawaii

TEA Party Maui

TFB Micronesia

The Harriet Tubman Agenda

The Long War Journal

The Real Hanabusa

Time Out Honolulu

Truth About Trade & Technology - Hawaii

UCC Truths

Union Members Know Your Rights

US Tax Foundation Hawaii Info

Valor in the Pacific

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT