PUBLIC STAFF SUMMARY OF MEETING INTERIM COMMITTEE PENSION REVIEW SUBCOMMITTEE
Date |
08/25/2023 |
Attendance |
Dan Daly |
X |
Diane Doney |
X |
Liston |
E |
Jim Mantele |
X |
Tina Mueh |
X |
Trey Rogers |
E |
Patrick Roybal |
* |
Joshua Sharf |
X |
Lang Sias |
* |
Jack Tate |
X |
Wilson |
X |
Earl Wright |
X |
Kolker |
X |
Hamrick |
X |
|
Time |
10:03:16 AM to 12:32:16 PM |
Place |
SCR 357 |
This Meeting was called to order by |
Hamrick |
This Report was prepared by |
Erin Reynolds |
|
Hearing Items |
Action Taken |
hFollow-Up Discussion with PERA |
Committee Discussion Only |
hDiscuss Subcommittee Recomendations for Pension Review Commission |
Committee Discussion Only |
hDiscuss Subcommittee Recomendations for PERA |
Committee Discussion Only |
hDiscuss Subcommittee Letter to Colorado Citizens |
Committee Discussion Only |
hPublic Testimony |
Committee Discussion Only |
|
|
Follow-Up Discussion with PERA - Committee Discussion Only
|
|
|
10:03:31 AM |
Executive Director
Amy McGarrity and Mr. Michael Steppat, representing PERA, came to the table
to answer any remaining questions from the subcommittee's meeting in July.
|
|
10:08:41 AM |
In response to the
committee questions, Director McGarrity discussed contribution and benefit
payments, automatic adjust provisions, PERA's earnings, and PERA's bond
and real estate portfolio.
|
|
10:21:47 AM |
Committee discussion continued with the PERA representatives on real estate refinancing, interest rates, and the automatic adjustment provision.
|
|
10:34:04 AM |
Committee discussion continued on means-testing COLA adjustment, pension spiking and highest average salary, PERA benefits by income, and PERA's rate of return.
|
Discuss Subcommittee Recomendations for Pension Review Commission - Committee Discussion Only
|
|
|
10:44:07 AM |
Ms. Jessica Herrera, Legislative Legal Services, and Mr. Louis Pino, Legislative Council Staff, came to the table to discuss the Pension Review Commission's legislative recommendation from 2023, House Bill 23-1016.
|
|
10:50:06 AM |
Committee discussion continued on the fiscal impact of House Bill 23-1016.
|
|
11:07:07 AM |
Committee discussion of various issues continued.
|
Discuss Subcommittee Recomendations for PERA - Committee Discussion Only
|
|
|
11:08:43 AM |
The committee discussed recommendations for PERA.
|
Discuss Subcommittee Letter to Colorado Citizens - Committee Discussion Only
|
|
|
11:09:11 AM |
Ms. Erin Reynolds, Legislative Council Staff, came to the table to discuss the annual letter to Colorado citizens.
|
|
11:12:21 AM |
Committee discussion continued on the annual letter.
|
Public Testimony - Committee Discussion Only
|
|
|
11:37:36 AM |
Mr. Jim Lipscomb, representing themself, testified and provided handouts to the subcommittee (Attachment A). Mr. Dave Lohe, representing the CSP Alumni Association, testified. Mr. Gordon East, representing themself, testified.
|
|
11:56:55 AM |
Committee discussion continued with the witnesses.
|
|
12:10:00 PM |
Mark Qualy, representing
themself, testified. Chuck Gray, representing themself, testified.
|
12:32:16 PM |
The committee adjourned. |