Date: 09/14/2009

Final
Bill 1

POLICE OFFICERS' AND FIREFIGHTERS' PENSION REFORM COMMISSION

Votes: View--> Action Taken:
Moved that Bill 1 be recommended for introduction Pass Without Objection

09:06 AM

Representative Benefield, Chair, called the meeting to order.

09:06 AM -- Bill 1

Kevin Lindahl, General Counsel, Colorado Fire and Police Pension Commission (FPPA), presented legislation recommended by the FPPA Board of Directors. He said that the board is proposing four bills to the commission this year. He began by presenting Bill 1 (Attachment A), concerning elimination of the local money purchase plan affiliation. He said that the bill will eliminate the ability of local money purchase plans to affiliate with the FPPA for investment services and plan administration. He noted that there are no such money purchase plans affiliated with the FPPA at present. He said that most of the local plans that left the FPPA system in earlier decades to create money purchase plans have since re-entered the FPPA defined benefit system. He said that Bill 1 will "clean up" unnecessary language in, and simplify, the FPPA statutes.

Attachment A.pdf
BILL:Bill 1
TIME: 09:12:50 AM
MOVED:Tochtrop
MOTION:Moved that Bill 1 be recommended for introduction during the 2010 legislative session. The motion passed without objection.
SECONDED:
VOTE
Casso
Excused
Gardner B.
Excused
Harvey
Excused
King S.
Yes
Labuda
Yes
Liston
Yes
Lundberg
Excused
Peniston
Excused
Riesberg
Excused
Schafer S.
Excused
Tochtrop
Yes
Waller
Yes
Williams
Yes
Morse
Yes
Benefield
Yes
Final YES: 8 NO: 0 EXC: 7 ABS: 0 FINAL ACTION: Pass Without Objection


09:13 AM

Representative Benefield said that Bill 1 will be introduced in the Senate and will be sponsored by Senator Tochtrop and Representative Labuda. All members present will serve as co-sponsors on the bill.