D. 
Administration; Financing



 



§88-101  Payment of existing pensions. 
(a)  The pensions of all teachers on the pension rolls of the retirement fund
for pensioning retired teachers on January 1, 1926, shall be continued and
paid from the pension accumulation fund at the rates at which they were paid
prior to that date.



(b)  The pensions of all other persons retired
prior to April 22, 1925, and granted pensions on account of service for
the Territory shall, if they were in force on June 30, 1925, be continued
and paid from the pension accumulation fund.  Any additional amount required to
continue such pensions shall be provided by an increase in the accrued
liability contribution otherwise payable to the pension accumulation fund.



(c)  The administration and payment of all
other pensions provided by the legislature and the pensions and allowances
similarly provided for veterans of the Hawaii guard shall be the responsibility
of the system from and after June 5, 1953.  All sums required for these
purposes shall be provided by appropriation to the system. [L 1925, c 55, pt of
§9, and §10; am L Sp 1933, c 10, §§3, 4; RL 1935, §7928; am L 1935, c 45, §2;
RL 1945, §713; RL 1955, §6-55; HRS §88-91; am L 1969, c 110, pt of §1]