SB 136 would change the annual compensation survey from annually to bi-annually. This bill would also require the state personnel director to include in the report recommendations and estimated costs for state employee retirement benefits for the next fiscal year.
- The Colorado Coalition for Retirement Security opposes this bill.
- The annual compensation report has not been fully funded in the last 11 years – we must fix this survey in whole not in part.
- The PERA Board of trustees is the appropriate body to evaluate the State’s retirement plan and make recommendations to the General Assembly like they have been doing for decades, not the state personnel director.
- This bill puts an onerous burden on the state personnel director and the Department of State Personnel.
- DPA believe this bill will cost them nearly $200,000 every other year to complete the report.
- SB 136 requires DPA to use a published 3rd party survey to compile all of its recommendations – we do not believe such a survey currently exists and thus would have to be created costing the State unnecessary money.
- This bill does not include what elements of retiree benefits should be included or how they should be compared.