HRS § 88-23 - General administration of system vested in board

The general administration and the responsibility for the proper operation of the retirement system and for making effective the provisions of this part and parts VII and VIII are vested in a board of trustees; subject, however, to the area of administrative control vested in the department of budget and finance by sections 26-8 and 26-35. To fulfill its responsibilities, the system may require any department or agency of the State or counties to furnish information to the system to carry out the purposes of this chapter. [L 1925, c 55, §5(1); RL 1935, pt of §7924; RL 1945, pt of §707; RL 1955, §6-60; HRS ; am L 1969, c 110, pt of §1; am L 1982, c 165, §2(1); am L 1984, c 108, §1; am L 2002, c 128, §3; am L 2005, c 58, §3] Case Notes Powers and duties of board are functionally equivalent to those of board of directors of a private corporation and limited only by "the areas of administrative control" reserved to the department of budget and finance by §§26-8 and 26-35. 87 H. 152, 952 P.2d 1215. Where no showing that board's failure to authorize and pursue appeal would precipitate crisis in system's operations or jeopardize system's corporate existence, system's purported administrator could not initiate appeal on system's behalf under exception to general rule that only corporation's board possesses authority to control corporation's litigation. 87 H. 152, 952 P.2d 1215. Without express authorization of employees' retirement system board, attorney general lacked power to file appeal on board's behalf from circuit court's final order; where attorney general perceived conflict of interest with board, attorney general was ethically obligated to recommend retention of other counsel to represent board and take other appropriate action. 87 H. 152, 952 P.2d 1215.