July 01, 2025
On May 29, 2025, Gov. Green signed SB 855 into law, amending the Hawaii Retirement Savings Program (HRSP) to require covered employers to automatically enroll covered employees in the program. This includes withholding and remitting payroll deduction contributions unless the covered employee elects not to participate. Covered employers will also be required to provide employees with written notice of the employee’s right to opt out. The state has not yet announced a launch date for the HRSP.
Employers should be aware of this amendment. For further information regarding the state’s employee benefits, employers can also ask their broker or consultant for a copy of the NFP publication Hawaii: Employee Benefit Considerations.