The maximum amounts allowable under sections 14-44-8(b) and 14-44-9 shall be reduced in accordance with regulations governing section 457 of the Internal Revenue Code, 26 U.S.C. § 457, if a participant is deferring or has deferred compensation under another eligible plan or annuity plan under section 403(b) of the Internal Revenue Code, 26 U.S.C. § 403 (b).
Haw. Code R. § 14-44-10