CO SB020

Establishes a uniform 65% approval threshold for fire and police pension plan elections, requiring that approvals be based on 65% of active members who actually vote in the election (not 65% of all active members).

Applies the voting approval standard to multiple pension plan actions including withdrawals, benefit amendments, contribution rate increases, plan switches, and coverage applications across statewide money purchase plans, hybrid plans, and defined benefit plans.

Modifies approval language in Colorado Revised Statutes sections 31-31-501, 31-31-502, 31-31-601, 31-31-704.5, 31-31-802, 31-31-1101, 31-31-1102, and 31-31-1103 to consistently require voter participation in determining approval thresholds.

Includes alternative approval mechanisms allowing employers to offer one-time opt-in/opt-out options to employees when local plans permit individual account self-direction, bypassing the need for a formal election.

Declares the act necessary for immediate preservation of public peace, health, and safety; was approved by Governor John W. Hickenlooper.