CO SB074

Allows employers in the school division, local government division, and Denver public schools division of the Public Employees' Retirement Association (PERA) to modify contribution rates beginning January 1, 2012, by decreasing employer contributions and increasing member contributions.

Requires that the total combined employer and member contribution rates remain equal to the current statutory rates, preventing any net reduction in total contributions to PERA.

Limits the shift from employer to member contributions to a maximum of 2.5 percentage points.

Requires employers to approve any contribution rate changes through a vote of the governing body at an official public meeting, with the option to set rates for one or multiple years.

Requires employers to provide annual notice to PERA regarding the employer and member contribution rates designated for each calendar year.