The 2024 legislative session commenced January 10 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. 21, 2024
Additional PERA Service Retirees for Schools
Summary: Under current law, employers in the School and Denver Public Schools (DPS) divisions can designate up to 10 retirees who are permitted to work up to 140 days or 916 hours per calendar year without reductions to their PERA benefits. This bill would allow districts with more than 10,000 students to designate an additional retiree for each thousand students over 10,000.
Status: Passed House Finance Committee Feb. 5; referred unamended to Committee of the Whole
District Attorneys’ Salaries
Summary: Would increase the minimum compensation for district attorneys and assistant district attorneys, as well as allow the board(s) of county commissioners of counties that make up a judicial district, in consultation with the district attorney, to make a one-time irrevocable election to require an assistant district attorney to become a member of the PERA Defined Benefit Plan.
Status: Passed Senate Judiciary Committee Feb. 5; referred unamended to Senate Appropriations Committee
Public Employees’ Retirement Association Retiree Refundable Income Tax Credit
Summary: Would create a temporary tax credit of $700 for qualified PERA retirees in tax years 2024 and 2025. To qualify, a retiree would have to be 65 or older at the end of the tax year during which the credit is claimed, and have annual gross income of no more than $38,000 for single tax filers or $76,000 for joint filers.
Status: Passed Senate Finance Committee Feb. 6; referred with amendments to Senate Appropriations Committee
Public Employees’ Retirement Association Employment after Retirement for Rural Schools
Summary: Under current law, rural school districts can declare a critical shortage of qualified teachers, school bus drivers, food service workers, school nurses, or paraprofessionals and hire PERA retirees to fill those positions without having their retirement benefits reduced. This bill adds principals and superintendents to the list of qualified positions.
Status: Passed third reading in Senate Feb. 16; introduced in House and assigned to House Education Committee
Contracted Private Employee Exclusion from Public Employees’ Retirement Association
Summary: Imposes a moratorium until June 30, 2025, during which PERA is prohibited from including in its membership an employee of a third-party private entity that contracts with a public entity to perform services.
Sponsors: Rep. Don Wilson
Status: Introduced Jan. 31; assigned to House Education Committee
Repeal Divest from Companies with Israel Prohibitions Law
Summary: In 2016, the general assembly enacted HB16-1284, which requires PERA to periodically identify all companies that have economic prohibitions against Israel and to divest all direct holdings of those companies from its assets and prohibits PERA from acquiring new direct holdings in any of those companies. This bill would repeal the statutory provisions enacted in HB16-1284.
Sponsors: Rep. Elisabeth Epps
Status: Introduced Jan. 31; scheduled for hearing in House Finance Committee on Feb. 26.
Defined benefitAlso known as a pension, this is a type of pooled retirement plan in which the plan promises to pay a lifetime benefit to the employee at retirement. The plan manages investments on behalf of members, and the retirement benefit is based on factors such as age at retirement, years of employment and salary history.