NOTE:  This bill has been prepared for the signature of the appropriate legislative
officers and the Governor.  To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
      history, or the Session Laws.
      
      
      SENATE BILL 10-023
      
      
      BY SENATOR(S) Williams, Lundberg, Morse, Tochtrop;
      also REPRESENTATIVE(S) Riesberg and Liston, Benefield, Gardner B.,
      King S., Labuda, Peniston, Schafer S., Waller, Apuan, Casso, Looper,
      Nikkel, Todd.
      
      
      Concerning the discretion of the board of directors of the fire
           and police pension association to adopt rules regarding the
           return to work by a member participating in the defined
           benefit system of the association who elects retirement.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  Part 4 of article 31 of title 31, Colorado Revised
      Statutes, is amended BY THE ADDITION OF A NEW SECTION to read:
      
           31-31-411.  Return to work by participating member after
      retirement - rules.  (1)  The board may, in its discretion, adopt rules
      suspending the benefits of a member who participates in the defined
      benefit system, separates from service, elects a retirement, and
      subsequently returns to work with an employer who participates
      in the defined benefit system.  Such rules shall indicate whether
      the member shall earn additional service credit as determined by
      the plan in which the subsequent employer participates and
      whether the benefit distribution shall resume at such time as the
      member subsequently separates from service.
      
           (2)  Notwithstanding subsection (1) of this section, the board
      may adopt rules that allow a member who has reached normal
      retirement age and who has separated from service, elected a
      retirement under the defined benefit system, and subsequently
      returned to work with an employer who provides benefits under
      the defined benefit system to:
      
           (a)  Continue receiving distribution of the member's
      retirement benefits; and
      
           (b)  Earn additional retirement benefits in an alternate
      money purchase plan.
      
           (3)  Prior to the adoption of any rules promulgated
      pursuant to subsection (2) of this section, the board shall make a
      finding that such rules are in compliance with section 31-31-204
      (3), and that there will be no adverse actuarial impact to the
      defined benefit system as a result of the implementation of such
      rules.
      
           SECTION 2.  Act subject to petition - effective date.  This act
      shall take effect at 12:01 a.m. on the day following the expiration of the
      ninety-day period after final adjournment of the general assembly (August
      11, 2010, if adjournment sine die is on May 12, 2010); except that, if a
      referendum petition is filed pursuant to section 1 (3) of article V of the state
      constitution against this act or an item, section, or part of this act within
      such period, then the act, item, section, or part shall not take effect unless
      approved by the people at the general election to be held in November 2010
      and shall take effect on the date of the official declaration of the vote
      thereon by the governor.
      
      
      
      
      ____________________________  ____________________________
      Brandon C. Shaffer                Terrance D. Carroll
      PRESIDENT OF                     SPEAKER OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
      
      
      ____________________________  ____________________________
      Karen Goldman                          Marilyn Eddins
      SECRETARY OF                 CHIEF CLERK OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    Bill Ritter, Jr.
                                    GOVERNOR OF THE STATE OF COLORADO