Thursday, March 28, 2024
Hawai'i Free Press

Current Articles | Archives

Thursday, July 21, 2016
Maui Hospital Veto Override will jeopardize the Employee Retirement System
By Grassroot Institute @ 12:11 AM :: 6677 Views :: Maui County, Hawaii State Government, Health Care, Labor

Grassroot Institute Exposes Flaws in Veto Override Regarding Maui Hospitals

Think tank argues that this move will jeopardize the Employee Retirement System

News Release from Grassroot Institute

HONOLULU, HAWAII -- (July 20, 2016) -- Today, lawmakers voted to override Governor Ige's veto of SB 2077, ignoring legal advice that this would jeopardize the tax qualified status of the Employee Retirement System. If the ERS is no longer considered tax exempt, then this will add an enormous cost to the public pension system. [1]

The law will also add an estimated $60 million cost to the Maui hospital transition. [2]

According to Keli’i Akina, Ph.D., President/CEO of the Grassroot Institute, “The veto override is an irresponsible action by legislators that will hurt the Employee Retirement System at a vulnerable time and unfairly hurt taxpayers in the process. The high price tag will also have a detrimental effect on the future transition of labor in our failing state hospital system.

"Our legislators are potentially jeopardizing hospital services for those in need of care throughout the islands. This move is also an extravagant waste of taxpayer dollars at a time when the ERS faces rising financial burdens.”

  • Thom Williams, Director of the Employee Retirement System, believes this bill jeopardizes its tax-qualified status. [2]
  • If the ERS is no longer tax exempt, they will owe taxes on the pension fund, which will ultimately be paid by Hawaii’s citizens.
  • No HHSC employee would have suffered any loss of any previously earned rights, benefits or privileges, according to Act 103.

[1] https://www.irs.gov/retirement-plans/tax-consequences-of-plan-disqualification

[2] http://www.capitol.hawaii.gov/session2016/bills/GM1338_.PDF

###

About the Grassroot Institute of Hawaii:

Grassroot Institute of Hawaii is a nonprofit, nonpartisan research institute dedicated to the principles of individual liberty, the free market, and limited, accountable government throughout Hawai`i and the Asia-Pacific region.  Read more about us at http://www.grassrootinstitute.org/

Like us on Facebook: http://www.facebook.com/GrassrootInstitute

Donate to help us grow: http://tinyurl.com/GrassrootDonate

Tweet us at http://twitter.com/grassroothawaii

About Grassroot President:

Keli’i Akina, Ph.D.,  is a recognized scholar, educator, public policy spokesperson, and community leader in Hawaii.  Currently, he is President/CEO of Grassroot Institute of Hawaii, a public policy think tank dedicated to the principles of individual liberty, free markets and limited, accountable government.  An expert in East-West Philosophy and ethics, Dr. Akina has taught at universities in China and the United States and continues as an adjunct instructor at Hawaii Pacific University.  Dr. Akina was a candidate for Trustee at Large of the Office of Hawaiian Affairs in the 2014 General Election run-off.

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT