CO HB1250

Changes employer contributions to PERA health care trust fund from a fixed 1.02% of employee salaries to an amount equal to actual premium subsidies paid annually, effective January 1, 2013.

Establishes premium subsidy amounts in statute at $230 per month for non-Medicare-eligible retirees and eliminates the $115 subsidy for Medicare-eligible retirees.

Removes PERA Board authority to modify premium subsidy amounts by rule; future subsidy changes may only be made by the General Assembly through legislation.

Applies to both the general PERA health care trust fund and the Denver Public Schools Division health care trust fund.

Takes effect August 8, 2012, subject to referendum petition and voter approval if challenged.