Modifications To PERA Public Employees' Retirement Association To Eliminate Unfunded Liability
It became law on Jun 4, 2018.
- Stage
- Became law
- Started in
- Senate
- Latest action
- Jun 4, 2018
What it does
The public employees' retirement association (PERA) provides retirement and other benefits to employees of the school districts, state, local governments, and other public entities across the state. The bill makes changes to the hybrid defined benefit plan administered by PERA with the goal of eliminating, with a high probability, the unfunded actuarial accrued liability of each of PERA's divisions and thereby reach a 100% funded ratio for each division within the next 30 years. The bill modifies benefits, increases contributions, ensures alignment of contributions, service credit, and benefits, and makes other modifications as follows: Highest Average Salary (HAS): Currently, for a PERA…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
It is law in Colorado. What happens now is up to the agency that carries it out, the courts, and the place itself.