Hawaii Employees Retirement System
public plan · State of Hawaii · Hilo, HI
ACTIVE
D
Pension Health Score
48/100
Funding Status62% Funded
0%80% threshold100%
$19.3B
Total Assets
$31.1B
Total Liabilities
$11.8B
Unfunded Liability
135,974
Participants
Funding History
What This Means for You
Hawaii Employees Retirement System is significantly underfunded at 62%, with $11.8B in unfunded liabilities affecting 135,974 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. Public plans cannot declare bankruptcy, but severe underfunding may lead to reduced cost-of-living adjustments or increased employee contributions. If you are a participant, it is important to understand your options and consider diversifying your retirement income sources.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $19.3B | $31.1B | 62.0% | $1.1B |
| 2024 | $18.3B | $29.4B | 62.2% | $1.3B |
| 2023 | $17.8B | $29.7B | 60.0% | $1.3B |
| 2022 | $17.6B | $30.8B | 57.2% | $1.4B |
| 2021 | $16.0B | $24.6B | 64.9% | $1.1B |