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CO SB104
Bill
AI Summary
- Reduces the total employer contribution rate for the Denver Public Schools (DPS) division of the Public Employees' Retirement Association from 10.4% to 7.15% of salary, effective July 1, 2023
- Implements a true-up required by the 2009 merger legislation that merged the Denver Public Schools Retirement System into PERA, designed to equalize the unfunded actuarial accrued liability ratios between the DPS division and PERA's school division by the end of the 30-year period beginning January 1, 2010
- Maintains the member contribution rate for the DPS division at 10.0% of salary
- Does not alter employer or member contribution rates for any other PERA division (State, School, Local Government, Judicial, or State Troopers)
- Includes a safety clause declaring the act necessary for immediate preservation of public peace, health, or safety
Legislative Description
Public Employees' Retirement Association True-up Of Denver Public Schools Division Employer Contribution
Last Action
Senate Committee on Finance Postpone Indefinitely
2/28/2023
Committee Referrals
Finance1/31/2023
Full Bill Text
No bill text available