CO HB1391

Amends Colorado Revised Statutes 24-51-401 to adjust employer contribution rates for the Denver Public Schools (DPS) division of the Public Employees' Retirement Association (PERA) following the merger of the Denver Public Schools Retirement System with PERA.

Reduces the DPS division employer contribution rate from 13.75% to 10.15% and maintains the member contribution rate at 8.0%, bringing DPS rates into alignment with other PERA school division rates.

Applies the adjusted contribution rates to employer, member, and working retiree contributions calculated as a percentage of salary paid for each payroll period.

Effective date is January 1, 2015.

Declared necessary for the immediate preservation of public peace, health, and safety under the safety clause provision.