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Hilo, Hawaii News, Sports, & Information Friday, December 19, 2014



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Posted: Thursday, June 26th, 2014 12:07 PM HST

Down payment on unfunded retirees liability

By 67AM KPUA News

Hawai`i has begun setting aside funds to address the unfunded liability for health care premiums.

The state this week made an initial deposit of $100 million to the Hawai`i Employer-Union Health Benefits Trust Fund (EUTF) to begin pre-funding Public Employee Other-Post Employment Benefits (OPEB). OPEB are retiree benefits, excluding pension payments that include health insurance premiums and life insurance.

The funds were appropriated during the 2013 legislative session as part of the Executive Biennium Budget starting in fiscal year 2014.



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