CO SB158

Reduces elected member positions on the PERA board from 15 to 12 trustees by eliminating one state division seat and two school division seats, effective January 1, 2018.

Increases appointed trustees from three to six, all appointed by the governor with senate confirmation, requiring expertise in investment management, finance, banking, economics, accounting, pension administration, or actuarial analysis.

Requires at least one elected trustee from both the state division and school division to be at least 20 years from full service retirement eligibility when beginning their first board term.

Limits appointed trustees so no more than three shall be from the same political party, increased from the prior limit of two.

Takes effect August 9, 2017, unless a referendum petition is filed, in which case it requires voter approval at the November 2018 general election.