CO SB234

State treasurer must transfer $132,409,339 from the general fund to the Old Hire Plan Members' Benefit Trust Fund on May 31, 2013, to satisfy the state's future required pension payments.

This one-time lump sum transfer replaces the previous annual transfer schedule that was set to continue through 2019, and no further transfers to this fund shall be made under this section.

State treasurer must reimburse the State Education Fund with transfers totaling $95,321,079 between April 30, 2014 and April 30, 2019 to compensate for reduced education fund transfers caused by the early pension payoff.

The reimbursement amounts are: $45,321,079 on April 30, 2014; $25,321,079 annually on April 30 of 2015-2018; and $24,991,739 on April 30, 2019.

Department of Treasury appropriations for fire and police pension association old hire plans are decreased by $10,000,000 and $15,321,079 for fiscal year 2013-2014.