Payment – Your first pension payment is issued approximately 4 weeks after your retirement date pending verification of your ‘close of business’ date (last day on the payroll) with your personnel office. You will receive a monthly pension, which will be paid at the end of every month.
2012 Pension payment dates -
| Semi-monthly Only | All |
| March 15 | March 30 |
| April 13 | April 30 |
| May 15 | May 31 |
| June 15 | June 29 |
| July 13 | July 31 |
| August 15 | August 31 |
| September 14 | September 28 |
| October 15 | October 31 |
| November 15 | November 30 |
| December 14 | December 31 |
2013 Pension payment dates -
| Semi-monthly Only | All |
| January 15 | January 31 |
| February 15 | February 28 |
| March 15 | March 28 |
| April 15 | April 30 |
| May 15 | May 31 |
| June 14 | June 28 |
| July 15 | July 31 |
| August 15 | August 30 |
| September 13 | September 30 |
| October 15 | October 31 |
| November 15 | November 29 |
| December 13 | December 31 |
Final Pension Adjustment – Your estimated pension will be finalized following the receipt and review of your payroll/personnel records, your department’s audited report of any unused sick leave credits, and the amount of your vacation pay. Your pension will be adjusted to an exact amount retroactive to your retirement date.
Effective January 1, 2004, ERS is required to pay 4½% interest per annum on pensions not finalized within 6 months after the retirement date.
Taxation of Benefits – Pension benefits are subject to Federal income taxes, but are not subject to Hawaii State income taxes. If you will be living outside of Hawaii, contact your state and local tax authorities for information on the tax treatment of your pension within that state.
Mailing Address Change – Mailing address changes should be reported in writing to ensure correct mailing of any correspondence, tax forms, and other information. Change forms are available at all ERS offices or on the ERS website.
Financial Institution Change – Financial institution changes (for the direct deposit of your pension payment) must also be requested in writing. Change forms are available at all ERS offices or on the ERS website.