During the 2023 legislative session, Colorado legislators passed three bills that affect Colorado PERA, which were all signed into law by Governor Polis:
Senate Bill 23-016 Greenhouse Gas Emission Reduction Measures
This bill includes multiple provisions that are meant to reduce greenhouse gas emissions in the state. The PERA-related provision in the bill requires a description of climate-related investment risks, impacts, and strategies to be included as part of PERA’s annual Investment Stewardship Report.
Senate Bill 23-056 Compensatory Direct Distribution to PERA
This bill requires the state to make an additional payment to PERA in the amount of the remaining balance of the PERA Payment Cash Fund, plus $10 million in the General Fund, which results in a total payment of approximately $14.5 million. This payment is intended to recompense PERA for the cancellation of a previously scheduled July 1, 2020, direct distribution of $225 million, in addition to the compensatory payment provided in previous legislation.
Senate Bill 23-163 Colorado Parks and Wildlife Officers Classified as State Troopers
This bill modifies the definition of “State Trooper” to include wildlife officers and parks and recreation officers hired on or after January 1, 2011, by Colorado Parks and Wildlife in the Department of Natural Resources. It applies the State Trooper contribution rate and benefits to eligible employees and their employers effective July 1, 2023. (Those individuals who qualify under this definition in state statute are commonly referred to as “safety officers” for the purposes of PERA benefits in our materials.)
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