No one can credibly assert that maintaining the status quo is a way to deal with the retirement system's unfunded liability.
About the Authors
Colbert Matsumoto is the Chairman of the Board of Trustees of the Employees’ Retirement System of the State of Hawaii since January 2011. He was first appointed as a trustee by Governor Benjamin Cayetano in 2001 and reappointed in 2007 by Governor Linda Lingle. He served as the court-appointed master for Bishop Estate/Kamehameha Schools during the controversy-filled “Broken Trust” period from 1996 to 2000. Matsumoto graduated from a public school on Lanai and completed his post-secondary education on the mainland. He passed the bar examination in 1978 and was licensed as an attorney but no longer actively practices law.
News In Brief
Hawaii And FBI Gun Database
Hawaii could become the first state in the United States to enter gun owners into an FBI database that will automatically notify police if an island resident is arrested anywhere in the country.
Sports Authority Closing All Stores
The 463-store chain announced it is completely shutting down. It operates eight stores in Hawaii, including four on Oahu.
Big Rise In Oahu Condo Prices
The median price of Oahu condos rose 5.1 percent last month compared to a year ago, driven mostly by an 19.8 percent increase in the Ala Moana-Kakaako area, according to data from the Honolulu Board of Realtors.
We might spend about $1.74 billion less in local funds by dismantling the project instead of completing it. But that could prove costly in other ways.