In early 2024, staff of the Island $avings Plan Board of Trustees were informed that several State and county employee unions had negotiated Temporary Hazard Pay (THP) Settlements for their members for work performed during the COVID-19 pandemic. They reached out to Empower to research whether deferrals of similar payments were allowed in the Plan’s history and to determine the programing needed to allow a THP deferral into the Plan. The Board of Trustees agreed to allow participants to defer their THP into the Plan and Board staff worked with Empower, State departments, and counties to plan and program for the multiple THP Settlements that were negotiated. Multiple communication pieces were created to inform employees of this THP deferral opportunity and to provide more information about specific settlement details and instructions.
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- August 10, 2025 Create Date
- January 15, 2026 Last Updated
