HRS §88-29
Choosing leaders and legal help for the retirement board
This section says the retirement board picks its own chairperson, executive director, and chief investment officer. The board sets their pay and can hire experts and lawyers. The attorney general can advise the board, or the board can choose its own lawyer.
trustees
The statute, as written — Officers, employees, legal adviser
The board shall elect from its membership a chairperson, and by a majority vote of all its members, shall appoint an executive director and a chief investment officer who shall be exempt from chapter 76 and serve under and at the pleasure of the board. Effective July 1, 2007, the salaries of the executive director and chief investment officer shall be set by the board. The board shall engage actuarial and other services as shall be required to transact the business of the system. The compensation for all services engaged by the board, and all other expenses of the board necessary for the operation of the system, shall be paid at rates and in amounts the board shall approve. The attorney general or an appointed representative may serve as legal adviser to the board or the board may select its own legal counsel.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.