Hawaii Revised Statutes Division 1. Government § 88-8

(a) Notwithstanding any other law to the contrary, the board of regents may establish without regard to the public notice or public hearing requirements of chapter 91, a retirement system separate from the state employees' retirement system to provide retirement allowances and other benefits for University of Hawaii employees who are:

(b) The general administration and the responsibility for the proper operation of the optional retirement system of the University of Hawaii shall be vested in the board of regents. The board of regents may manage the optional retirement system within the University of Hawaii or contract for the management of the optional retirement system.

(c) The board of regents may establish vesting periods for the members of the optional retirement system of the University of Hawaii that are different from those established in this chapter.

(d) The board of regents may establish retirement allowances and other benefits for the optional retirement system of the University of Hawaii.

(e) The employer's share of the cost of the optional retirement plan of the optional retirement system of the University of Hawaii shall not exceed the equivalent amount for any other group covered by this chapter.

(f) Any member of the state employees' retirement system when the optional retirement system of the University of Hawaii is established who is also:

(g) Any person hired after the establishment of the optional retirement system of the University of Hawaii who is:

(h) Notwithstanding any other law to the contrary, retirement benefits for the optional retirement system of the University of Hawaii shall be a subject of collective bargaining negotiations for bargaining unit (7).