SB 25-028 CO

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Became Law

The public employees' retirement association (PERA) board (board) conducts or causes to be conducted an actuarial experience study of PERA and a periodic actuarial audit of PERA. Both the actuarial experience study and the periodic actuarial audit, neither of which were referenced in law prior to passage of the act, are conducted approximately once every 5 years, but the timing of the actuarial experience study and the periodic actuarial audit is not aligned. The act requires the board to conduct or cause to be conducted the actuarial experience study every 4 years, beginning with the actuarial experience study that the board conducted in the 2024 calendar year, rather than every 5 years. In addition, the act requires the board to conduct or cause to be conducted the periodic actuarial audit of PERA in the 2026 calendar year and every 4 years thereafter , rather than every 5 years, and to ensure that each periodic actuarial audit takes into consideration the results and findings of the most recent actuarial experience study that was conducted or caused to be conducted by the board. For several years, the pension review commission has been required to commission an independent review of the economic and investment assumptions used to model PERA's financial situation. The act requires the commission to commission the independent review every 4 years, rather than every 3 years, within 3 months of the release of the periodic actuarial audit of PERA conducted or caused to be conducted by the board. (Note: This summary applies to this bill as enacted.)

• Chris Kolker Democratic · primary
• Faith Winter · primary
• Eliza Hamrick Democratic · primary
• Rick Taggart Republican · primary

1. Mar 26, 2025 Governor Signed · executive
2. Mar 19, 2025 Sent to the Governor · executive
3. Mar 19, 2025 Signed by the Speaker of the House · lower
4. Mar 19, 2025 Signed by the President of the Senate · upper
5. Mar 10, 2025 House Third Reading Passed - No Amendments · lower
6. Mar 7, 2025 House Second Reading Special Order - Passed - No Amendments · lower
7. Mar 5, 2025 House Second Reading Special Order - Laid Over Daily - No Amendments · lower
8. Mar 3, 2025 House Committee on Finance Refer Unamended to House Committee of the Whole · lower
9. Feb 18, 2025 Introduced In House - Assigned to Finance · lower
10. Feb 18, 2025 Senate Third Reading Passed - No Amendments · upper
11. Feb 14, 2025 Senate Second Reading Passed with Amendments - Committee · upper
12. Feb 11, 2025 Senate Committee on Finance Refer Amended - Consent Calendar to Senate Committee of the Whole · upper
13. Jan 8, 2025 Introduced In Senate - Assigned to Finance · upper