HAR §14-56-1. Purpose

(a) Chapter 88F of the Hawaii Revised Statutes, authorizes the board of trustees of the State of Hawaii deferred compensation plan to establish the State of Hawaii PTS deferred compensation retirement plan for part-time, temporary, seasonal/casual employees of the State who are not eligible to participate in the State's ERS or deferred compensation plan under chapter 88E, Hawaii Revised Statutes. (b) It is intended that this plan shall be an "eligible deferred compensation plan" under sections 457 and 3121 of the Code. It is also intended that each eligible employee of the State, through his or her participation in this plan, shall be deemed to be a "member of a retirement system" of a state, political subdivision, or instrumentality under section 3121(b)(7)(F) of the Code and the regulations promulgated thereunder. (c) Except as otherwise provided, participation in this plan shall be mandatory and the contribution under this plan shall be in lieu of contributing to social security (a medicare contribution shall still be required). (d) Subtitle 6 of title 14, consisting of chapters 14-56 to 14-61, Hawaii Administrative Rules, 56-1 2015