8DCF51C339EAFC9F8725874C007877A9 Hearing Summary

PUBLIC
BILL SUMMARY For SUBCOMMITTEE RECOMMENDATIONS FOR COMMISSION

INTERIM COMMITTEE PENSION REVIEW SUBCOMMITTEE
Date Sep 10, 2021
Location HCR 0112

Subcommittee Recommendations for Commission - Committee Discussion Only

03:55:52 PM

The subcommittee
discussed recommendations for the Pension Review Commission. Mr.
Roybal discussed a recommendation regarding increasing the state annual
contribution to the PERA pension fund. Representative Bird discussed
a one time state payment to the PERA pension fund. Committee discussion
ensued. PERA representatives commented.

04:23:35 PM

Erin Reynolds, Legislative
Council Staff, responded to committee questions.

04:26:19 PM	Motion	Move to forward a recommendation to the Pension Review Commission to introduce a bill to make a one-time additional contribution to the PERA pension fund.
	Moved	Lang Sias
	Seconded	Gary Arnold

	Gary Arnold
	Michael Johnson
	Jim Mantele
	Carole Partin
	Priola
	Trey Rogers
	Patrick Roybal
	Joshua Sharf
	Lang Sias
	Jack Tate
	Van Winkle
	Earl Wright
	Danielson	Excused
	Bird
		YES: 0 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: Pass Without Objection

04:26:21 PM

Mr. Sias discussed
a recommendation regarding signal light reporting. PERA representatives
and committee members discussed the recommendation.

04:34:01 PM	Motion	Move to forward a recommendation to the PERA Board to revise the signal light process to reflect a 67 percent likelihood of reaching full funding by 2048.
	Moved	Lang Sias
	Seconded	Van Winkle

	Gary Arnold
	Michael Johnson
	Jim Mantele
	Carole Partin
	Priola
	Trey Rogers
	Patrick Roybal
	Joshua Sharf
	Lang Sias
	Jack Tate
	Van Winkle
	Earl Wright
	Danielson	Excused
	Bird
		YES: 0 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: Pass Without Objection

04:41:14 PM

Committee discussion
ensued regarding a recommendation proposed by Mr. Roybal.

04:42:12 PM	Motion	Move to forward a recommendation to the Pension Review Commission to introduce a bill to increase the annual state contribution.
	Moved	Patrick Roybal
	Seconded	Carole Partin

	Gary Arnold	No
	Michael Johnson	No
	Jim Mantele	No
	Carole Partin	Yes
	Priola	Excused
	Trey Rogers	No
	Patrick Roybal	Yes
	Joshua Sharf	No
	Lang Sias	No
	Jack Tate	No
	Van Winkle	No
	Earl Wright	Excused
	Danielson	Excused
	Bird	No
		YES: 2 NO: 9 EXC: 3 ABS: 0 FINAL ACTION: FAIL

04:50:31 PM

Mr. Sias discussed
a GRS recommendation and made a motion. Committee discussion ensued.

04:51:29 PM	Motion	Move to forward a recommendation to the Pension Review Commission to introduce a bill regarding a GRS recommendation to adjust the timing of PERA's next experience study.
	Moved	Lang Sias
	Seconded	Jim Mantele

	Gary Arnold	No
	Michael Johnson	No
	Jim Mantele	Yes
	Carole Partin	No
	Priola	Excused
	Trey Rogers	No
	Patrick Roybal	No
	Joshua Sharf	Yes
	Lang Sias	Yes
	Jack Tate	Yes
	Van Winkle	Yes
	Earl Wright	Excused
	Danielson	Excused
	Bird	No
		YES: 5 NO: 6 EXC: 3 ABS: 0 FINAL ACTION: FAIL

04:51:37 PM

The committee discussed
additional GRS recommendations. Mr. Sharf made a motion.

05:00:07 PM	Motion	Move to forward a recommendation to the PERA Board to shorten amortization periods for future layers to 2048.
	Moved	Joshua Sharf
	Seconded	Lang Sias

	Gary Arnold	Yes
	Michael Johnson	Yes
	Jim Mantele	Yes
	Carole Partin	No
	Priola	Excused
	Trey Rogers	No
	Patrick Roybal	No
	Joshua Sharf	Yes
	Lang Sias	Yes
	Jack Tate	Yes
	Van Winkle	Yes
	Earl Wright	Excused
	Danielson	Excused
	Bird	No
		YES: 7 NO: 4 EXC: 3 ABS: 0 FINAL ACTION: PASS

05:00:35 PM

Mr. Sharf made a
motion. Committee members commented.

05:04:19 PM	Motion	Move to forward a recommendation to the PERA Board to include a historical reconciliation of gains and losses in their signal light report.
	Moved	Joshua Sharf
	Seconded	Van Winkle

	Gary Arnold	No
	Michael Johnson	Yes
	Jim Mantele	Yes
	Carole Partin	No
	Priola	Excused
	Trey Rogers	Yes
	Patrick Roybal	Yes
	Joshua Sharf	Yes
	Lang Sias	Yes
	Jack Tate	Yes
	Van Winkle	Yes
	Earl Wright	Excused
	Danielson	Excused
	Bird	Yes
		YES: 9 NO: 2 EXC: 3 ABS: 0 FINAL ACTION: PASS

Subcommittee Recommendations for Commission - Committee Discussion Only

Colorado General Assembly