Daniel Kagan voted Nay (Passage) on this Legislation.
Title: Amends Public Retirement System Policies
Signed by Governor John Hickenlooper
Title: Amends Public Retirement System Policies
Vote to pass a bill that amends laws governing the Public Employees' Retirement Association (PERA).
Title: Amends Public Retirement System Policies
Vote to pass a bill that amends laws governing the Public Employees' Retirement Association (PERA).
Authorizes a cost of living adjustment increase of 2% for all retirees from 2018-2019 and a 0% cost of living adjustment freeze for the following years, length to be determined (Sec. 2).
Amends the definition of “salary” to include unused sick days converted to cash payments in the total amount (Sec. 2).
Increases the age requirement to receive full-service retirement benefits from 60 to 65 for new PERA members hired on or after January 1, 2020 (Sec. 13).
Increases the monthly contribution amount for PERA members from 8% of their total monthly salary to 8.5% starting July 1, 2018 and to 11% by January 1, 2020 (Sec. 9).
Increases the monthly employer contribution rate for all taxpayer funded PERA employers starting July 1, 2018 and again on July 1, 2019 by 1% of member’s monthly salary (Sec. 12).
Amends the definition of “employer” to include any of the following divisions, including, but not limited to (Sec. 21):
The Denver public school division;
The local government division; or
The judicial division
Establishes a bipartisan public pension legislative oversight committee in order to study and develop proposed legislation relating to the long term funding and benefit designs of PERA (Sec. 26).
Title: Amends Public Retirement System Policies