CO SB056

State Treasurer shall issue a warrant to the Public Employees' Retirement Association (PERA) consisting of the remaining balance in the PERA Payment Cash Fund plus $10 million from the General Fund, to be distributed on the effective date or as soon as possible thereafter.

Payment compensates PERA for the July 1, 2020 distribution that was cancelled due to House Bill 20-1379, in addition to partial recompensation already provided under existing law.

PERA Payment Cash Fund, created in section 24-51-416, is repealed effective July 1, 2023.

Bill includes a safety clause declaring the act necessary for immediate preservation of public peace, health, or safety.