CONFERENCE COMMITTEE REP. NO. 96-26

Honolulu, Hawaii

, 2026

RE: S.B. No. 3096

S.D. 1

H.D. 1

C.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Sir and Madam:

Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 3096, S.D. 1, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE EMPLOYEES' RETIREMENT SYSTEM'S EMPLOYER CONTRIBUTIONS FOR NORMAL COST AND ACCRUED LIABILITY,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to increase employer contributions for normal cost and accrued liability for police officers, firefighters, and corrections officers to ensure that the amortization period for the unfunded accrued liability of the State's Employees' Retirement System does not exceed the maximum funding period.

Your Committee on Conference finds that the unanticipated salary increases for police officers, firefighters, and corrections officers have led to the growth of the Employees' Retirement System's unfunded accrued liability. This measure will help to address the funding gap and mitigate the need for future contribution increases for employers that share financial liability across the System.

Your Committee on Conference has amended this measure by inserting an effective date of July 1, 2027.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 3096, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 3096, S.D. 1, H.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE HOUSE

ON THE PART OF THE SENATE

____________________________ JACKSON D. SAYAMA Co-Chair	____________________________ BRANDON J.C. ELEFANTE Chair
____________________________ MIKE LEE Co-Chair	____________________________ HERBERT M. RICHARDS, III Co-Chair