Public pension system to get $2.4m overhaul

HONOLULU — The goal: To make the retirement process for state and county government employees more efficient, and save taxpayers money in the long run.

Inefficiencies with the Hawai‘i Employees’ Retirement System have led to such things as backlogs for pension benefits and inaccurate payments. The fund has about 111,000 state and county government employee members, including about 39,400 retirees and beneficiaries.

ERS trustees on Monday approved a six-part plan recommended by a Virginia-based consultant to help streamline the process for calculating retirement benefits.

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