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SB 18-200 Fiscal Note.pdf

2018a_sb200_f1.pdf
Preview of SB 18-200 Fiscal Note
🔗 Source: leg.colorado.gov
📊 Size: 239 KB
👤 Author: Marie_Garcia
⬇️ Downloads: 65

Summary

SB 18-200 makes modifications to the Colorado Public Employees' Retirement Association (PERA) to eliminate unfunded liability, including changes to the highest average salary calculation, assessing PERA benefits on gross salary, reclassifying certain peace officers, increasing employer and employee contribution rates, and implementing automatic adjustments to contribution rates and the cost of living adjustment (COLA) rate. The bill reduces state revenue, increases state and local government expenditures, and increases PERA revenue. It requires an appropriation of $200,000 to the Legislative Department and a direct distribution of $225 million to PERA. The fiscal note reflects the enacted bill, with estimated state fiscal impacts including revenue reductions and expenditure increases.

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Description

SB 18-200 makes modifications to the Colorado Public Employees' Retirement Association (PERA) to eliminate unfunded liability, including changes to the highest...

Technical Information

  • File Format: PDF
  • File Size: 239 KB
  • Pages: 17
  • Language: EN
  • Author: Marie_Garcia
  • Total Downloads: 65
  • Last Updated: 1 week ago

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