HRS §88F-6
Deferred funds
Money you put into the plan, plus anything it earns or buys, is held in a trust outside the state treasury. This trust is for the exclusive benefit of you and your beneficiaries, following federal tax rules.
employees
The statute, as written — Deferred funds
Sums deferred under the plan, as well as property and rights purchased with the amounts and income attributable to the amounts, shall be held in trust outside the state treasury in accordance with section 457 of the Internal Revenue Code of 1986, as amended, for the exclusive benefit of participants and their beneficiaries.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.