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Employees hired on or after July 1, 2012 are eligible to retire at age 65 with a minimum of 10 years of credited service or at age 60 with a minimum 30 years of credited service.
Administration Thomas Williams. Executive Director. (808) 586-1700. Gail Strohl. Deputy Executive Director. (808) 586-1702. Kristin Varela. Chief Investment Officer. (808) 586-0175. Lori Kobayashi. Benefits Manager. (808) 586-1624. Larry Wolfe. Accounting Manager. (808) 586-1728. Keith Miyamoto. Information Technology Manager.
What are the minimum requirements for service retirement? If you have at least 10 years of credited service AND you are age 62 or older when you leave your job, you can retire with full benefits.
Non-Contributory Plan Employees in this plan are eligible to retire at age 62 with a minimum of 10 years of credited service or at age 55 with a minimum 30 years of credited service. Employees at age 55 with 20 years of credited service may elect early retirement with reduced benefits.
The ERS administers benefits for service retirement, disability, and survivor benefits for employees of the State of Hawaii, the City and County of Honolulu, County of Hawaii, County of Maui and County of Kauai, which includes teachers, professors, police officers, firefighters, judiciary employees, judges, and elected
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Employees contribute 8% of salary out of each paycheck to the pension fund. The average retirement benefit is $30,708 per year, or $2,559 per month.
Hawaii is moderately tax-friendly toward retirees. Social Security income is not taxed. Withdrawals from retirement accounts are fully taxed. Wages are taxed at normal rates, and your marginal state tax rate is 5.50%.
Hilo (The Big Island) Walkable, active, and neighborly, the cost of properties in Hilo is significantly lower than properties in major metropolitan areas such as Honolulu. Median home prices in Hilo are $290,700, whereas the median home prices in Honolulu are nearly $600,000 -- over twice the price.

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