CO HB1179

Reduces elected member positions on the Public Employees' Retirement Association (PERA) board from 11 to 7 by eliminating one state division position, two school division positions, and one retiree position, effective January 1, 2013.

Increases appointed trustee positions from 3 to 7 by adding four governor-appointed trustees (with senate confirmation) who are not PERA members or retirees and have expertise in investment management, finance, banking, economics, accounting, pension administration, or actuarial analysis.

Requires at least one elected trustee from both the state and school divisions elected after January 1, 2013, to be at least 15 years from retirement eligibility to ensure board representation of members distant from retirement.

Changes retiree trustee election after initial transition period so that one retiree is elected by all retired members from any division, rather than having separate retiree representatives.

Mandates legislative service agencies conduct a post-enactment review five years after enactment to evaluate implementation and assess whether the board composition changes address the stated conflict-of-interest concerns.