The Hawaii Direct Deposit form, officially known as Form ERS-210, is a document that allows retirees and beneficiaries of the Employees’ Retirement System (ERS) of the State of Hawaii to designate a financial institution for the automatic deposit of their retirement benefits. Enacted by the Hawaii Legislature in 2010, this requirement aims to streamline benefit payments and ensure timely access to funds. Completing this form accurately is essential for receiving benefits without delay.
The Hawaii Direct Deposit form, officially known as Form ERS-210, is a crucial document for retirees and beneficiaries of the Employees’ Retirement System (ERS) of the State of Hawaii. Enacted by legislation in 2010 and effective from April 1, 2011, this form mandates that all individuals receiving ERS retirement benefits designate a financial institution for direct deposit. Completing the entire form accurately is essential for its validity; any alterations require the submission of a new form. The agreement consists of several sections, starting with Section A, where account holders authorize the ERS to deposit benefits directly into their chosen financial institution. Section B gathers necessary account information, ensuring that the retiree's name appears on the account. Section C outlines the agreements of all account holders, which include authorizations and responsibilities concerning the account. Finally, Section D captures the signatures of all account holders, confirming their understanding and agreement to the terms. It is important to attach a voided check or deposit slip when submitting the form to ensure proper processing. For any questions or assistance, retirees and beneficiaries can contact the ERS directly or visit their website.
Filling out the Hawaii Direct Deposit form can seem straightforward, but many people make common mistakes that can delay their benefits. One of the most frequent errors occurs in Section B, where account information is provided. Individuals often forget to double-check the routing number or account number. A single digit error can lead to funds being deposited into the wrong account, causing unnecessary complications.
Another mistake involves the signature requirements. All account holders must sign the form in Section D. Some people assume that only the primary account holder's signature is needed. This oversight can render the form invalid, leading to further delays in processing retirement benefits.
Many individuals neglect to include a VOIDED check or deposit slip when submitting the form. This document is crucial as it provides the necessary verification of the account details. Without it, the Employees’ Retirement System (ERS) may not be able to process the direct deposit, resulting in a hold on benefits.
Additionally, changes in personal information, such as a new mailing address, must be clearly marked on the form. Some people fail to indicate a change, thinking it will be understood. This can create confusion and lead to important correspondence being sent to the wrong address.
Another common pitfall is not ensuring that the retiree or beneficiary's name matches the name on the account. If there are discrepancies, the ERS may reject the application. It is vital to confirm that the names align to avoid any issues with deposits.
Some people overlook the importance of reading the agreements in Section C. This section outlines the responsibilities and rights of all account holders. Failing to understand these agreements can lead to misunderstandings later on, especially concerning withdrawals made in error.
Lastly, individuals often forget to keep a copy of the completed form for their records. This can be problematic if there are questions or issues later on. Having a copy allows for easy reference and can expedite any necessary follow-up with the ERS.
ERS-210
Act 94/SLH 2010 (Rev. 9/2011)
INSTRUCTIONS FOR
DIRECT DEPOSIT AGREEMENT (FORM ERS-210)
In 2010, the Hawaii Legislature passed a law, effective April 1, 2011, requiring all retirees and beneficiaries of the Employees’ Retirement System of the State of Hawaii ("ERS") to designate a financial institution into which the ERS shall be authorized to deposit their ERS retirement benefits.
All portions of the Direct Deposit Agreement (Form ERS-210) must be completed in order for the form to be valid. In addition, if there is any alteration of this form, a new form must be completed. You must submit a new form if there are any changes to your account (i.e. account number, account holder, financial institution). The most recently dated form submitted to ERS will apply.
Section A – Deposit Authorization
By signing the Direct Deposit Agreement, you and all account holders authorize the ERS to automatically and directly deposit your ERS benefits to the Financial Institution named in Section B.
Section B – Account Information
The retiree or beneficiary’s name must appear on the account. You may ask the representative of the financial institution to help complete this section.
Section C – Agreements of All Account Holders
This section contains the agreements of everybody who is on the account, including the ERS retiree or beneficiary. The agreements in Section C apply to all Account Holders even if they are not the retiree or beneficiary receiving ERS benefits.
Section D – Signatures of All Account Holders
By signing the Direct Deposit Agreement, all of the Account Holders confirm that they understand and agree to the agreements in Section C.
The retiree or beneficiary signs as primary account holder. If the account is a joint account, please have all account holder(s) sign the form. Use an additional sheet if necessary. If you are representing the retiree or beneficiary, please ensure that you have any authorizing document(s) attached to the Direct Deposit Agreement (Form ERS-210).
Please attach a VOIDED check (Checking Account) or deposit slip (Savings Account) and return this form to the ERS.
If you have any questions, please contact the ERS at:
Oahu:
(808) 586-1735
Toll Free from neighbor islands:
1-(800)
468-4644 Ext. 61735
Toll Free from mainland:
1-(888)
659-0708
ERS Website:
http://www4.hawaii.gov/ers
Mailing Address:
Employees’ Retirement System
201 Merchant Street, Suite 1400
Honolulu, HI 96813-2980
EMPLOYEES’ RETIREMENT SYSTEM OF THE STATE OF HAWAII
Honolulu, Hawaii 96813-2980
DIRECT DEPOSIT AGREEMENT
LAST Name:
FIRST Name:
Mailing
Address:
Check here if
new address
SSN:
Middle Initial:
Day Phone:
Effective April 1, 2011, Hawaii law requires all retirees and beneficiaries receiving benefits from the Employees' Retirement System of the State of Hawaii ("ERS") to designate a financial institution into which the ERS shall be authorized to deposit their ERS retirement benefits.
SECTION A – Deposit Authorization
By signing in Section D, I/We hereby authorize the Employees’ Retirement System of the State of Hawaii (“ERS”) to automatically and directly deposit my ERS benefits to my/our account at the financial institution named below (“Financial Institution”).
SECTION B -- Account Information (see your financial institution for help in completing this section)
Name of Account Holder(s):
Name of Financial Institution:
Routing Number:
Account Number:
□ Checking
□ Savings
Financial Institution Certification (Optional):
Name of Agent: ________________________________________
Phone: ___________________
Signature:
________________________________________
Date: _____________________
SECTION C – Agreements of All Account Holders
By signing in Section D, the Account Holder(s):
•Authorize the ERS to make withdrawals from my/our account in the event that the ERS benefits have been deposited to the account in error, e.g., overpayments.
•Consent to the disclosure by the Financial Institution to the ERS of any information that the ERS requests to effectuate, administer, or enforce the transactions authorized in Sections A, C, and D.
•Agree not to hold the ERS responsible for any delay or loss of funds due to incorrect or incomplete information supplied by me/us or by Financial Institution or due to an error on the part of Financial Institution in depositing funds to the account.
SECTION D – Signatures of All Account Holders
Authorized Signature (Primary):
Date:
Authorized Signature:
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