Senate Bill 158 is sponsored by Senator Tate (R- Arapahoe County) and Representative Nordberg (R – Colorado Springs). Senate Bill 158 would change the composition of PERA’s Board of 15 Trustees. It would reduce the number of Trustees elected by members and increase the number of Trustees appointed by the Governor.
Senate Bill 113 is sponsored by Senator Neville (R- Littleton) and Representative Everett (R- Littleton). This bill would cap employer contribution rates at 2018 levels.
HB 1114 authorizes the state treasurer to review all records or information within the custody and control of PERA. Neither the executive director nor the board may deny the state treasurer’s request for records or information.
The Legislative Audit Committee received an update from Cavanaugh Macdonald on the funded status of PERA and an update to the Signal Light Study originally authorized under Senate Bill 14-214.
A recent report by the Thomas B. Fordham Institute looked at pension plans across the country and made some critical pronouncements. In the case of Colorado, however, they made a fatal flaw in one of their assumptions, negating the validity of their arguments regarding Colorado PERA.
The Colorado Legislative Audit Committee released the 5th consecutive clean audit on PERA. The Auditors did not find and material weaknesses or significant deficiencies in PERA’s reporting or controls.