§ 24-51-1701 — Legislative declaration

Colorado § 24-51-1701

• Jurisdiction: Colorado
• Title 24: Government
• Art.: Public Employees' Retirement Association

Text

(1) The general assembly hereby finds
and declares that:

(a) It is in the best interests of the people of this state to administer the
Denver public schools pension system within the state under the public employees'
retirement association.

(b) The combination of the Denver public schools retirement system as a
separate division of the public employees' retirement association will recognize the
distinctive characteristics of that system and its funding over sixty-three years, and
will also facilitate the general assembly's anticipated assessment of the
contribution and benefit structure of the association's defined benefit plans to
maintain the perpetual sustainability of such plans based on the recommendations
from the board of trustees of the association in 2010.

(c) The state's seventy-seven-year investment in the defined benefit plans
for Colorado public servants has served the state invaluably. The association has
provided positive investment returns on funds that, when distributed as benefits,
remain substantially within Colorado and fosters a professional and effective
governmental service system. These features strengthen the provision of
government services for all citizens of the state in ways that no other retirement
system could, affecting the public safety and general welfare of the state for the
better.

(d) The current separation of pension plans and provisions between Denver
public schools employees and the employees of all the other school districts in the
state creates artificial barriers for employees to relocate between the systems.
Therefore, this separation hinders competitive forces for the placement of teachers
and other employees at their potential optimum employment location, preventing
the maximization of employee value for all school districts and citizens within the
state.

(2) The general assembly further finds and declares that the purpose of this
part 17 is to combine the two systems with the intent of facilitating the perpetual
future maintenance, security, and sustainability of the defined benefit plans within
the public employees' retirement association. Given the special services and
benefits rendered by Colorado's public servants to the citizens of the state, it is the
province, right, and obligation of the state to care for the members and the
dependents and survivors of its public servants who are entitled to retirement
benefits due to length of service or age or because they have been injured or
disabled in service.

Legislative History

Source: L. 2009: Entire part added, (SB 09-282), ch. 288, p. 1353, � 56, effective May 21.