HRS §88-46.6
Interest on mistaken pension contributions for class C members
If money is wrongly taken from a class C member's pay and put into the pension fund, the fund must add regular interest to that money. The interest keeps growing until the money is given back to the member or to the employer. No interest is paid on amounts that were more than the member's actual pay.
employees
The statute, as written — Erroneous contributions from compensation of class C members; contributions from overpaid compensation
Regular interest shall be credited to a class C member on any deductions erroneously made from the compensation of the member and paid into the annuity savings fund. The interest shall continue until the earlier of: (1) Refund of the deductions to the member; or (2) Return of the deductions to the member's employer. The foregoing shall not require the payment of interest on deductions made from any amounts that exceed the compensation to which a member is entitled.
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