h_sa_2017a_2017-03-15t13:33:18z0 Hearing Summary

Date: 03/15/2017

Location: LSB A

01:33 PM -- SB17-158



Representative Nordberg, bill sponsor, presented Senate Bill 17-158. The bill modifies the composition of the 16-member Colorado Public Employee Retirement Association (PERA) Board of Trustees to:



• eliminate one State Division trustee position;

• eliminate two School Division trustee positions;

• require at least one elected member from both the State and School Divisions to be at least 20 years from retirement eligibility; and

• add three additional pension experts, appointed by the Governor and confirmed by the Senate, who are not PERA members, inactive members, or retirees to replace the eliminated elected member trustee positions.



No more than three of the now six pension experts may be from the same political party.



01:37 PM -- Joshua Sharf, Independence Institute, testified in support of the bill. Mr. Sharf answered questions from the committee.



01:45 PM -- Tim O'Brien, Colorado PERA, testified in opposition to the bill. Mr. O'Brien answered questions from the committee.



01:53 PM -- Rudy Zitti, Americans for Prosperity, testified in support of the bill.



01:58 PM -- Phyllis Zamarripa, representing herself, testified in opposition to the bill.



01:59 PM -- Fred Trujillo, representing himself, testified in opposition to the bill.



02:00 PM -- Eileen Bond, Colorado Senior Lobby, testified in opposition to the bill.



02:03 PM -- Mark Ruzzin, Boulder County, testified in opposition to the bill.



02:05 PM -- Lynea Hansen, Secure PERA, testified in opposition to the bill. Ms. Hansen answered questions from the committee.





02:11 PM



Representative Nordberg made concluding remarks about the bill. Committee members made comments about the bill.