Bill > SB147

This bill modifies the management and governance of the Public Employees' Retirement Association (PERA) Board of Trustees by implementing several key changes. The bill defines the PERA Board as a local public body under the Open Meetings Law, establishes term limits for board members, and requires increased transparency. Specifically, elected and appointed trustees will now be limited to two consecutive terms, with the option to return to the board after sitting out one term. The bill mandates that starting January 1, 2025, the board must post detailed information on its website, including meeting notices, public participation policies, meeting records, and comprehensive financial information such as employee compensation, bonuses, third-party service provider expenses, travel costs, annual budget, audited financial statements, and salary schedules. While providing the board with significant administrative flexibility, the legislation explicitly states that the board retains final authority and responsibility for managing the association. The bill aims to increase accountability, transparency, and good governance of the PERA Board by ensuring more frequent leadership rotation and public access to financial and operational information.

Budget and Finance

https://leg.colorado.gov/bills/sb25-147