[§389-6]  Hawaii retirement savings program; contribution amount; rates.  The default contribution amount deducted from the payroll of a covered employee who has elected to contribute to the program shall be equal to five per cent of the covered employee's salary or wages; provided that an employee may elect to contribute a higher or lower percentage of compensation as long as the amount does not exceed the applicable contribution dollar limits under the Internal Revenue Code. [L 2022, c 296, pt of §2]