SB 25-147 Colorado Senate · 2025 Regular Session

Modify Board Management Public Employees' Retirement Association

Summary

Section 1 of the act defines the board of trustees of the public employees' retirement association (board) as a local public body for purposes of the open meetings law. Section 2 limits the terms of both elected and appointed members of the board to not more than 2 consecutive 4-year terms; except that the state treasurer is not subject to the 2-term limit. A former trustee who has served 2 consecutive terms may be reelected or reappointed to the board after not serving on the board for a period of at least one term. Section 2 also clarifies how such term limits apply in the case of a vacancy appointment. Section 3 requires the board, on and after January 1, 2025, to conduct its meetings in accordance with the open meetings law as a local public body and requires the board to post and regularly maintain and update the public employees' retirement association's (association) website with information including: The notice with specific agenda information, if available, for the board's next public meeting; The policy for and process by which a member of the public may participate in any public meeting of the board; A link or other means of public access to the records of past public meetings of the board; and The official email address of the board. Section 3 also requires that, on or before January 1, 2026, and on or before January 1 of each calendar year thereafter, the board post certain financial information of the association on the association's website. Section 4 clarifies that, while the board may delegate any of its responsibilities, duties, and powers to the executive director of the association or other designated agents, the board retains authority and responsibility for the management of the association and all its statutory duties and powers through a specified existing administrative process. (Note: This summary applies to this bill as enacted.)

Bill status signed all 5 stages cleared

Introduction

Feb 2025

Committee Review

Apr 2025

Senate Passage

Mar 2025

House Passage

Apr 2025

Signed into Law

Jun 2025

Introduced Feb 5, 2025 Signed Jun 3, 2025

Maddy AI version diff · 5 comparisons

What changed between versions

Revised (04/24/2025) → PA1 (02/26/2025) · 4 edits

MODERATE

This bill amends the Public Employees' Retirement Association (PERA) Board composition rules, specifically changing term limits for trustees and clarifying vacancy appointment procedures. The changes affect how long trustees can serve and how vacancies are filled, impacting board stability and governance structure.

Scope change

The bill's scope remains focused on PERA Board management, but eligibility and term limits for board members have been modified.

ELIGIBILITY

Changed trustee term limits from a maximum of four consecutive terms to a maximum of two consecutive terms for both elected and appointed trustees.

REQUIREMENT

Added new provisions requiring staggered terms for appointed trustees so no more than one term expires annually.

Modified vacancy appointment procedures to specify that appointees from the same division remain eligible for two additional full terms.

Added clarification that appointed trustees serve four-year terms with staggered expiration dates.

Floor votes · Senate Mar 12, 2025 · House Apr 25, 2025

How they voted

33–0

Passed

Total votes 33

Mar 12, 2025

D Democratic21

21 Yea

100% Yea

R Republican12

12 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jun 3, 2025

Signed into law

Governor Signed

executive

Apr 25, 2025

Lower · Passed

House Third Reading Passed - No Amendments

lower

Apr 11, 2025

Lower · Passed

House Committee on Appropriations Refer Unamended to House Committee of the Whole

lower

Mar 24, 2025

Committee

House Committee on Finance Refer Unamended to Appropriations

lower

Mar 12, 2025

Introduced

Introduced In House - Assigned to Finance

lower

Mar 12, 2025

Upper · Passed

Senate Third Reading Passed - No Amendments

upper

Mar 7, 2025

Upper · Passed

Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole

upper

Feb 25, 2025

Committee

Senate Committee on Finance Refer Amended to Appropriations

upper

Feb 5, 2025

Introduced

Introduced In Senate - Assigned to Finance

upper

4 primary · 11 co-sponsors