§ 31-30.5-301 — Legislative declaration

Colorado § 31-30.5-301

• Jurisdiction: Colorado
• Title 31: Government
• Art.: Fire - Police - Old Hire Pension Plans

Text

The general assembly finds and
declares that the establishment of statewide actuarial standards regarding funded
and unfunded liabilities of state-assisted old hire police officers' and firefighters'
pension funds established pursuant to this article is a matter of statewide concern
affected with a public interest, and the provisions of this part 3 are enacted in the
exercise of the police powers of this state for the purpose of protecting the health,
peace, safety, and general welfare of the people of this state. The general
assembly further declares that state moneys provided to municipalities, fire
protection districts, and county improvement districts do not constitute an
obligation of the state to participate in the costs of pension plan benefits but are
provided in recognition that said local governments are currently burdened with
financial obligations relating to pensions in excess of their present financial
capacities. It is the intent of the general assembly in providing state moneys to
assist said local governments that state participation decrease annually,
terminating at the earliest possible date.

Legislative History

Source: L. 96: Entire article added with relocations, p. 867, � 1, effective May 23.