The Hawaii Employees Savings Thrift Plan is a retirement savings program designed to provide financial security for state and county government employees in Hawaii. This plan allows employees to contribute a portion of their pre-tax income into a savings account, which can then be invested in various investment options such as stocks, bonds, and mutual funds. One of the primary benefits of the Hawaii Employees Savings Thrift Plan is the ability for employees to save for retirement on a tax-deferred basis. Contributions made to the plan are deducted from the employee's taxable income, allowing them to potentially lower their overall tax liability. In addition to the tax advantages, the Hawaii Employees Savings Thrift Plan offers a wide range of investment options to suit different risk appetites and investment goals. Participants can choose from a selection of diversified investment funds managed by reputable investment companies. These funds are designed to provide long-term growth potential while managing risk. The Hawaii Employees Savings Thrift Plan also offers an employer matching contribution, which provides an additional incentive for employees to save for retirement. The matching contribution is typically a percentage of the employee's contribution, up to a certain limit. This employer match can significantly boost retirement savings and help employees achieve their long-term financial goals. It's important to note that there are different types of Hawaii Employees Savings Thrift Plan, based on the employer. For example, the Hawaii Employees' Retirement System (ERS) offers the ERS Savings Plan for state and county government employees, while the City and County of Honolulu Employees' Retirement System (ERS) offers the Honolulu ERS Savings Plan for its employees. Overall, the Hawaii Employees Savings Thrift Plan is a valuable retirement savings tool that allows employees to build a nest egg for their post-employment years. With its tax advantages, diverse investment options, and employer matching contributions, this plan provides an opportunity for Hawaii's government employees to secure their financial futures.