DENVER – A bill to shore up Colorado’s Public Employees Retirement Association – PERA – is headed to the governor’s office after Tuesday’s bipartisan 36-29 vote in the House, where it was sponsored by Rep. Andy Kerr, D-Lakewood.
Senate Bill 1 authorizes several stop-gap measures to stem the depletion of PERA funds and is expected help the fund avoid insolvency in the near term.
More than 400,000 state, school and local government employees in Colorado participate in the retirement program, including delaying retirement for current employees who are not yet vested in PERA.
The bill also reduces PERA’s Cost of Living Adjustment to reflect the Consumer Price Index, but guarantees a 2 percent increase for all retirees, active and inactive participants after one year. The bill also would call on employers will be asked to contribute an additional 2 % (1.5% for schools) and employees will be asked to contribute an additional 2% until the fund is solvent.
“This bill represents the necessary work that needs to be done to protect the retirement future of Colorado employees. Even in these tough partisan times we can come together in a bipartisan manner and do what’s right for PERA retirees,” Kerr said.
The bill was sponsored in the Senate by President Brandon Schaffer, D-Longmont, and Minority Leader Josh Penry, R-Grand Junction.
House Bill 1, introduced by freshman Rep. Max Tyler, D-Lakewood, cleared its final vote in the House last week and moves on to the state Senate.
The bill, which would require large Colorado utilities to increase power generated by use of renewable sources.
Tyler’s bill would increase the mandated requirement – the state’s Energy Standard – from 20 percent to 30 percent by 2020. That would require nearly a third of the power generated by utilities such as Xcel to come from sources such as solar and wind, in the next 10 years.
“This bill represents a huge step forward into the future of renewable energy usage and sets a precedent for Colorado and other states to become less dependent on fossil fuels,” Tyler said “The benefit of renewable energy forms is that they occur naturally:Colorado is not lacking in sunshine, for instance.”
Colorado voters approved the Renewable Energy Standard in 2004 with the passage of Amendment 37, which set a goal of 10 percent by 2015. That standard was doubled and the deadline extended to 2020 by the state legislature in 2007.
State Sen. Mike Kopp, a Republican who represents south Lakewood as part of his south Jeffco Senate District 22, will introduce his “Blueprint for a leaner Government” in the Senate.
“It seeks to streamline and eliminate wasteful bureaucracies so that government costs taxpayers less money in these recessionary times,” according to Kopp.
The measure would create two bipartisan study groups. One would examine “all bureaucratic state functions” to determine which are necessary and which duties could be either eliminated or farmed out to the private sector. A second group that would include business owners would examine regulatory duties of state agencies, compiling a list of regulations that are “outmoded, wasteful and top-heavy,” according to Kopp.