The 2023 Colorado General Assembly commenced January 9 and will continue for 120 days.
Below you’ll find summaries of proposed legislation affecting Colorado PERA. The status of each bill will be updated regularly.
Last updated: Feb. 1, 2023
Compensatory Direct Distribution To PERA
Summary: Requires the state to make an additional payment to PERA in an amount equal to $35,050,000 that, along with the payment required under HB22-1029, is meant to fully recompense PERA for the cancellation of a previously scheduled July 1, 2020, direct distribution of $225 million. The source of funds identified for this payment is the balance of the PERA payment cash fund, with any remaining amount coming from the state’s general fund.
Status: Introduced Jan. 17; Senate Finance Committee scheduled to discuss the bill on Feb. 7
Greenhouse Gas Emission Reduction Measures
Summary: Would require the PERA Board to adopt a proxy voting policy that ensures any voting decisions align with the state’s greenhouse gas emission reduction goals, as well as require PERA to include in its annual Investment Stewardship Report a description of climate-related investment risks, impacts and strategies. The PERA Board opposes efforts to restrict PERA’s investment options or compel PERA to invest in a way that prioritizes a policy outcome over fiduciary duties.
Status: Introduced Jan. 10; Senate Transportation & Energy Committee forwarded amended bill to Senate Finance Committee Jan. 25
Limitating Use of State Money
Summary: Would require PERA staff to make investment decisions solely on financial factors and would prohibit consideration of social, political, or ideological interests. The PERA Board opposes efforts to restrict PERA’s investment options or compel PERA to invest in a way that prioritizes a policy outcome over fiduciary duties.
Sponsor: Rep. Rod Bockenfeld
Status: Introduced Jan. 19; House Finance Committee scheduled to discuss the bill on Feb. 6
Denver Public Schools Division Employer Contribution Reduction
Summary: Would reduce the employer contribution rate of the Denver Public Schools Division of PERA from 10.4% to 7.15% of salary. The PERA Board opposes reductions in contributions while PERA has unfunded liabilities.
Status: Introduced Jan. 31; assigned to Senate Finance Committee