ERS' new leader confident fund will meet obligations

By Dave Segal

POSTED: 01:30 a.m. HST, Feb 18, 2013

~~<p>Vijoy Paul Chattergy, the new chief investment officer of the Hawaii Employees' Retirement System, said current retirees shouldn't worry about their benefits being shortchanged because of the $8.4 billion shortfall in the state public pension plan.</p>
<p>"They should rest easy that we are going to meet their obligations," said Chattergy, whose interim title was removed Nov. 1. "What they've worked for over the years should be fine to plan on. And for the folks who are a few years out to retirement or just starting out, that's why the board went to the Legislature last year and reformed the benefit structure. Now we're trying to build up the investment office so we will be able to meet their retirement needs going on into the future."</p>
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Vijoy Paul Chattergy, the new chief investment officer of the Hawaii Employees' Retirement System, said current retirees shouldn't worry about their benefits being shortchanged because of the $8.4 billion shortfall in the state public pension plan.

"They should rest easy that we are going to meet their obligations," said Chattergy, whose interim title was removed Nov. 1. "What they've worked for over the years should be fine to plan on. And for the folks who are a few years out to retirement or just starting out, that's why the board went to the Legislature last year and reformed the benefit structure. Now we're trying to build up the investment office so we will be able to meet their retirement needs going on into the future." Login for more...