CO HB1235

Creates the Colorado Retirement Security Task Force in the legislative branch to study factors affecting Coloradans' ability to save for retirement and assess feasibility of creating a state retirement savings plan for private sector employees.

Task force consists of 17 members appointed by the Governor, Speaker of the House, President of the Senate, and minority leaders, plus the State Treasurer and State Demographer as ex officio member; first meeting required by August 1, 2015.

Task force must submit two reports: one by March 1, 2016 on retirement security factors, and one by September 30, 2016 on feasibility of a retirement savings plan that would include portable benefits, professional investment management, and defined contribution or benefit options.

Operations funded solely through gifts, grants, and donations; task force may solicit input from private citizens, government entities, and organizations; legislative council staff provides support only for the first meeting.

Task force is repealed effective June 30, 2017; recommendations cannot include state guarantees, employer liability, conflicts with federal law, or ERISA compliance concerns.