HB 18-1111 Summary

• Reduces elected trustee positions on the PERA board from 15 to 11 trustees by eliminating 1 state division position and 3 school division positions, effective January 1, 2019.

• Increases governor-appointed trustee positions from 3 to 7, requiring appointees to have ten years of experience in specific fields including investment management, accounting, securities law, tax law, pension management, actuarial analysis, and financial planning.

• Requires all elected members from state, school, local government, and judicial divisions elected after January 1, 2019, to be at least 20 years away from retirement eligibility.

• Authorizes board members to request and receive full access to all PERA records and information necessary for fiduciary duties, including financial, investment, and actuarial data, without PERA denying requests based on staff time or resource costs.

• Prohibits trustees from using provided records for personal use and requires PERA to maintain confidentiality of personal identifying information while fulfilling trustee information requests.