HAR §12-11-77. Limitation of fund

The separate fund provided by section 12-11-76 shall not exceed five per cent of the employer's highest monthly payroll in the last twelve completed calendar months. No further deductions shall be made from employees until the fund falls below the five per½cent indicated above. The additional withholdings plus the fund balance shall not exceed five per cent of the employer's highest payroll in the last twelve completed calendar months. The director may, based on the actuarial experience of an employer or group of employers, reduce the limitation prescribed by this section. [Eff 5/11/81] (Auth: HRS §392-91) (Imp: HRS §392-67) §§12-11-78 to 12-11-84 (Reserved) SUBCHAPTER 6 REPORTS