CO SB099

Allows service retirees who are superintendents, principals, teachers, school bus drivers, food service cooks, school nurses, or paraprofessionals to work for rural school districts without reducing retirement benefits if hired by eligible employers and the retiree did not work during their retirement month.

Limits eligibility to small rural school districts (6,500 students or fewer) or rural school districts as defined by the Department of Education, boards of cooperative services, or charter schools located within rural areas that demonstrate a critical shortage of qualified personnel.

Prohibits service retirees who retire before meeting age and service credit requirements for full retirement benefits from being rehired by their last employer until two years after their retirement date.

Requires employers to notify the Public Employees' Retirement Association upon hiring service retirees and provide updated lists by September 1 annually and before additional hirings during the same calendar year.

Directs the association to submit reports to the legislature's finance and education committees every five years beginning December 1, 2025, detailing the number of retirees employed, effectiveness in addressing shortages, and any costs to the association.