STATUS: SB 80 has been killed in House State Affairs
UPDATE: Senate Bill 80 passed out of Senate Finance on February 10th on a 3-2 party line vote – even after the fiscal note becoming public that morning showing the bill would cost $4.2 BILLION – click here to see the fiscal note for yourself. During the committee hearing Ben Moultrie an AARP volunteer advocate gave great testimony which you can read here.
On February 13th, the Senate passed the bill on 2nd reading.
Senate Bill 80 was introduced by Senator Owen Hill (R – Colorado Springs)
This bill would allow all PERA employees the option to choose the PERA pension plan or the 401(k) style plan. Currently, State employees have this option. This bill would expand that option to all divisions.
Secure PERA opposes this bill. Retirement security for our employees is of the utmost importance and this bill erodes that security.