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Retirement system projected to be fully funded a year ahead

By Dave Segal

POSTED: 01:30 a.m. HST, Dec 10, 2013

~~<p>The state employees' retirement system is now expected to be fully funded one year earlier than anticipated.</p>
<p>Steps taken in the past three years by the pension plan's trustees, Gov. Neil Abercrombie and the state Legislature helped increase the fund so as of June 30 it was at 60 percent of where it needs to be to pay all the pensions promised, according to an independent actuarial report by Gabriel, Roeder, Smith &amp; Co., based in Dallas. That's up from 59.2 percent as of June, 30, 2012.</p>
~~

The state employees' retirement system is now expected to be fully funded one year earlier than anticipated.

Steps taken in the past three years by the pension plan's trustees, Gov. Neil Abercrombie and the state Legislature helped increase the fund so as of June 30 it was at 60 percent of where it needs to be to pay all the pensions promised, according to an independent actuarial report by Gabriel, Roeder, Smith & Co., based in Dallas. That's up from 59.2 percent as of June, 30, 2012. Login for more...



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