STAND. COM. REP. NO. 2727

Honolulu, Hawaii

RE: S.B. No. 3095

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 3095, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII EMPLOYER-UNION HEALTH BENEFITS TRUST FUND INVESTMENT OFFICE STAFF SALARIES,"

begs leave to report as follows:

The purpose and intent of this measure is to authorize the Hawaii Employer-Union Health Benefits Trust Fund Board of Trustees to set the salaries for the investment officers and investment analysts of the Trust Fund.

Your Committee received written comments in support of this measure from the Hawaii Employer-Union Health Benefits Trust Fund Board of Trustees.

Your Committee finds that providing the Hawaii Employer-Union Health Benefits Trust Fund Board of Trustees with the flexibility to set competitive and appropriate compensation levels for investment personnel, instead of generally requiring that the salaries mirror collective bargaining agreements, will assist in recruiting and retaining the highly qualified professionals necessary to effectively manage the Trust Fund's assets.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 3095, S.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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DONOVAN M. DELA CRUZ, Chair