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Bill Detail: SB19-106

 

Title Withdraw Peace Officers Local Government Retirement Plan
Status Introduced In House - Assigned to Transportation & Local Government (02/19/2019)
Bill Subjects
  • Local Government
House Sponsors K. Tipper (D)
Senate Sponsors R. Zenzinger (D)
J. Cooke (R)
House Committee Transportation and Local Government
Senate Committee Finance
Date Introduced 01/25/2019
Description

Any county, municipality, or other political subdivision (local
government) or group of local governments is currently authorized to

establish and maintain a plan or system of retirement benefits for its
elected or appointed officers and its employees. A local government or
group of local governments that adopts a retirement plan or system is
required to maintain an association for the purchase, establishment, or
procurement of a retirement plan (association). Currently, any employer
may withdraw from its participation in and contributions to any such
association upon adoption of a resolution by the local government's
governing body and upon approval by at least 65% of all active members
employed by the employer who are participating in the association.
The bill creates an additional withdrawal provision that allows a
board of county commissioners to initiate the withdrawal of current
employees who are peace officers from its participation in and
contributions to a defined contribution plan offered by an association for
the purpose of joining a retirement plan offered by the fire and police
pension association. For such a withdrawal, the approval requirement to
withdraw is 65% of all current employees who are peace officers
proposed to be withdrawn from participation in a defined contribution
plan offered by the association and who participate in the vote to
withdraw from the association. A board of county commissioners may use
the new withdrawal provision once every 4 years. A board of county
commissioners may also use the existing withdrawal provision to initiate
the withdrawal of current employees who are peace officers from its
participation in a defined contribution plan.

Committee Reports
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Fiscal Notes Fiscal Notes (02/08/2019) (most recent)  
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