SB19-106 Summary

• Board of county commissioners may initiate withdrawal of current peace officer employees from a defined contribution retirement plan offered by a local government association once every four years, with the goal of joining the Fire and Police Pension Association plan.

• Withdrawal requires at least 55% approval by the affected peace officers and a county commissioners resolution filed with the association board at least 90 days before the effective date.

• The association board and county commissioners must each have multiple opportunities to present information about advantages and disadvantages of withdrawal to affected peace officers before the approval election.

• Peace officers may elect to remain in the defined contribution plan after withdrawal becomes effective, but must provide written notice before the effective date or automatically remain in their current plan.

• Peace officers hired after the effective withdrawal date must be enrolled in the Fire and Police Pension Association retirement plan.