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HB 1511, Relating to the Employees’ Retirement System.

House Committee on Energy & Environmental Protection
Tuesday, February 10, 2015
8:30 a.m.

HB 1511, Relating to the Employees’ Retirement System.

Dear Chairman Lee and Committee Members:

The University of Hawaii Professional Assembly opposes proposed measure HB 1511. The measure which seeks divestiture of investments in fossil fuel companies does not advance the interests of public employees. To the contrary, the Employee Retirement System already bases its investment decision on policy that recognizes socially-responsible considerations. The impact of divestiture is unknown and could undermine the actions necessary to fully fund the retirement system.

UHPA encourages the Committee to defer this proposed measure.

Respectively submitted,

Kristeen Hanselman
Associate Executive Director