§88-123  Amount of annual contributions bythe State and counties.  The contribution payable in each year to thepension accumulation fund by the State and by each county shall be determinedby allocating the sum of the normal cost and the accrued liability contributionfor:

(1)  Police officers, firefighters, and correctionsofficers, the latter after the actual transfer of all county jails pursuant toexecutive order of the governor; and

(2)  All other employees

in the same proportion as the aggregate annualcompensation of each group employed by the State and by each county,respectively, as of March 31 of the valuation year.  Commencing with fiscalyear 2005-2006, the contribution payable in each year to the pensionaccumulation fund by the State and each county, respectively, shall bedetermined by multiplying the contribution rates in section 88-122(e) by theactual covered payroll in a given fiscal year for each of the two groups ofemployees in section 88-122(a). [L 1925, c 55, pt of §8; am imp L 1927, c 251,§4; am L 1933, c 181, §3; am L Sp 1933, c 10, §§2, 3; RL 1935, pt of §7927; amL 1935, c 48, §§2, 4; RL 1945, pt of §712, subs 3; RL 1955, §6-91; am L 1964, c62, §13; HRS §88-114; am L 1969, c 110, pt of §1; am L 1977, c 171, §3; am L1983, c 124, §15; am L 1997, c 327, §4; am L 2004, c 181, §3]

 

Cross References

 

  Trustees to submit estimates of amount due from county, see§248-3.