Direct Deposits for ASG Retirees Are in Their Accounts

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All direct deposits for ASG retirees went into the recipients accounts this morning, according to acting director of the Retirement Fund Office, Caroline Wendt.

The direct deposits normally go into the recipients bank accounts on the 15th of each month however that didn’t happen yesterday causing a lot of disappointment and frustration for retirees and their dependents.

Those receiving paper checks were not affected…they  received their checks via the mail or from the Retirement Fund Office yesterday.

Wendt said the problem was due to an error by the Bank of Hawaii and had nothing to do with Retirement Fund finances.

She assured that the Retirement Fund has enough money but it was a BOH error that caused the delay.

The acting director said all direct deposits went into retirees accounts this morning.

The Retirement Fund apologizes to beneficiaries for the inconvenience.

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