BACK TO TOP |
HAWAII
ERS, SHOPO suit wins class action status
A police officers' organization and the state Employees' Retirement System have won another round in their lawsuit against the state over the withholding of $346.9 million in contributions to Hawaii's largest pension fund.Circuit Court Judge Gary Chang certified the suit as a class action yesterday, paving the way for the State of Hawaii Organization of Police Officers and the individual plaintiffs to proceed in prosecuting the case on behalf of 96,000 ERS members. The state had contended that only the ERS should be able to make arguments on behalf of its members.
The significance in the ruling is that SHOPO is requesting a return of all the withheld money, while ERS is only seeking that Act 100 be declared unconstitutional. Act 100 is the legislative action that took effect June 30, 1999, permitting the state to use all of ERS' investment earnings over 10 percent to reduce state and county employer contributions over a two-year period.
Chang is scheduled to rule Monday on the legality of Act 100 after hearing arguments on three motions.
| | | PRINTER-FRIENDLY VERSION E-mail to Business Editor
Text Site Directory:
© 2003 Honolulu Star-Bulletin -- https://archives.starbulletin.com
[News] [Business] [Features] [Sports] [Editorial] [Do It Electric!]
[Classified Ads] [Search] [Subscribe] [Info] [Letter to Editor]
[Feedback]
-Advertisement-
