ColoradoPublic Employees' Retirement Association True-up of Denver Public Schools Division Employer Contribution
What it does
In accordance with the statutory requirement that the public employees' retirement association (PERA) determine whether the employer contribution rate for the Denver public schools (DPS) division of PERA must be adjusted to assure the equalization of the DPS division's ratio of unfunded actuarial accrued liability over payroll to the PERA school division's ratio of unfunded actuarial accrued liability over payroll at the end of the 30-year period that began on January 1, 2010, beginning on July 1, 2025, the act reduces the total employer contribution rate for the DPS division from 10.4% to 7.4% of salary.
More detail
In addition, the act:
Reduces the percentage of salary that is allocated to the DPS division health care trust fund from 1.02% of member salaries to.20% of member salaries, which will allow PERA to apply the remaining.82% of the allocation to pension liabilities; For 5 years beginning July 1, 2025, excludes the DPS division from the annual allocation of the money that is directly distributed to PERA by the general assembly; and For 5 years beginning July 1, 2025, removes the DPS division from the calculation that PERA annually uses to determine whether an automatic adjustment to member and employer contribution rates and annual increase amounts will occur.(Note: This summary applies to this bill as enacted.)
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- May 23Governor Jared Polis SignedBecame Law
- May 12Signed by the Speaker of the House
- May 12Signed by the President of the Senate
- May 12Sent to the GovernorTo Governor
- Apr 28Senate Third Reading Passed - No AmendmentsPassed Senate
- Vote recorded BILL. Result: pass.Upper
- Apr 25Senate Committee on Appropriations Refer Unamended to Senate Committee of the WholeMinor
- Vote recorded ADOPT REPORT. Result: pass.Upper
- Apr 25Senate Second Reading Special Order - Passed - No Amendments
- Apr 22Senate Committee on Finance Refer Unamended to AppropriationsMinor
- Apr 15Introduced In Senate - Assigned to FinanceMinor
- Apr 14House Third Reading Passed with Amendments - FloorPassed House
- Vote recorded PERM. Result: pass.Lower
- Vote recorded AMD. Result: pass.Lower
- Vote recorded BILL. Result: pass.Lower
- Apr 8House Third Reading Laid Over Daily - No Amendments
- Apr 7House Second Reading Special Order - Passed with Amendments - Committee, Floor
- Apr 4House Committee on Appropriations Refer Unamended to House Committee of the WholeMinor
- Mar 17House Committee on Finance Refer Amended to AppropriationsMinor
- Jan 27Introduced In House - Assigned to FinanceIntroduced