POLICE OFFICERS' AND FIREFIGHTERS' PENSION REFORM COMMISSION
|Votes: View--> ||Action Taken: |
|Moved that Bill 1 be recommended for introduction ||Pass Without Objection|
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.
|BILL:||Bill 1 |
|TIME: || 09:12:50 AM|
|MOTION:||Moved that Bill 1 be recommended for introduction during the 2010 legislative session. The motion passed without objection.|
Final YES: 8 NO: 0 EXC: 7 ABS: 0 FINAL ACTION: Pass Without Objection
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.