Employees' Retirement System

The Hawaii Employees' Retirement System (ERS) administers the defined-benefit pension plan for state and ke aupuni kalana employees, managing investments of approximately $22 billion in assets. The board of trustees sets investment policy, approves actuarial assumptions, and oversees administration of retirement, disability, and survivor benefits for over 120,000 active and retired members. Funding decisions made by the board affect required contributions from both employees and taxpayers.

If you work for the state or a ke aupuni kalana in Hawaii, your retirement security depends on the ERS board's investment and policy decisions. Taxpayers are also affected because the state general fund must cover any unfunded pension liability.