CO HB1106

Authorizes the Fire and Police Pension Association board to provide cost of living adjustments that may be paid in noncompounding form, in addition to or instead of compounded adjustments.

Grants the board discretion to determine the frequency of payment, whether adjustments are compounded or noncompounded, and any other form of payment for cost of living adjustments.

Requires adjustments to be paid effective October 1 each year and limits eligibility to benefits that have been paid for at least twelve calendar months prior to the adjustment date.

Requires the board to consider funding levels, adjustment costs, ability to fund future benefits, and other appropriate factors when determining cost of living adjustments, which shall not exceed limits set forth in subsection (2).

Takes effect 12:01 a.m. on the day following the ninety-day period after final adjournment of the general assembly, unless subject to a referendum petition.