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Bill

HB 847

RELATING TO HAWAII RETIREMENT SAVINGS ACT.

2026 Regular Session Introduced by Cory Chun and 17 co-sponsors

Hawaii establishes a state retirement savings program for private employees lacking employer plans, enabling automatic enrollment and portable accounts to boost retirement security.

Carried over to 2026 Regular Session.
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Bill Summary · HB 847

Legislative bill overview

HB 847 establishes the Hawaii Retirement Savings Act, which creates a state-facilitated retirement savings program for private sector employees whose employers don't offer workplace retirement plans. The bill aims to increase retirement security by providing an accessible savings mechanism, likely through automatic enrollment and portable accounts that follow workers between jobs.

Why is this important

Hawaii has a significant population of workers without access to employer-sponsored retirement plans, leaving many facing inadequate retirement savings. This program addresses a genuine gap in retirement security infrastructure and could reduce future dependence on state social services while helping workers build long-term financial stability.

Potential points of contention

  • Business compliance burden: Small employers may face administrative costs and requirements to facilitate payroll deductions, raising concerns about regulatory burden on business operations
  • Program funding and sustainability: Questions about whether state funds will be required to establish and maintain the program, or if costs fall entirely on participating employers and employees
  • Investment risk allocation: Disputes may arise over who bears responsibility if investment performance is poor, and whether state oversight adequately protects participant funds

Compiled from official sources — confirm details with the bill’s official record.

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