CO SB228

Creates the PERA Payment Cash Fund in the state treasury to hold appropriated money for Public Employees' Retirement Association payments.

State Treasurer shall credit all interest and income earned from the fund's deposits and investments back to the fund.

State Treasurer must pay from the fund any portion of the warrant due July 1, 2022 under Section 24-51-414(1)(a) that would otherwise come from the general fund, with discretionary authority for payments after that date.

Appropriates $380,000,000 from the general fund to the PERA Payment Cash Fund for the 2020-21 state fiscal year, with the Department of Treasury responsible for accounting.

Money in the fund is available for any employer contribution or disbursement required under PERA law, subject to annual appropriation.