RELATING TO UNFUNDED LIABILITIES.

Establishes the Rate Stabilization Reserve Fund within the Hawaii Employer-Union Health Benefits Trust Fund to help subsidize the costs of providing health and other benefit plans for active employees and retirees and their beneficiaries. Caps employer contributions to the OPEB trust fund, which are made to prefund the unfunded actuarial accrued liability of the EUTF, when the separate accounts for each public employer within the OPEB trust fund have a combined balance of at least $2,000,000,000. If OPEB trust fund balance is at least $2,000,000,000 then public employer annual contributions of $300,000,000 shall be paid to the Employees' Retirement System to pay down ERS unfunded liabilities. Provides for the use of a portion of transient accommodations tax revenues to supplement deficient county public employer contribution amounts. (HB887 HD1)