NOTE: The governor signed this measure on 3/24/2012.
      
      
      HOUSE BILL 12-1031
      
      
      BY REPRESENTATIVE(S) Peniston, Labuda, Duran, Ramirez, Schafer S.,
      Todd, Williams A., Wilson, Young;
      also SENATOR(S) Tochtrop, King S., Morse, Williams S.
      
      
      Concerning the authority of the board of the fire and police
           pension association to make amendments to plans for the
           administration of benefits.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 31-31-204, add (2.5)
      as follows:
      
           31-31-204.  Defined benefit system. (2.5)  Notwithstanding
      section 31-31-408 or 31-31-1102 (5) or the terms of an agreement
      entered into pursuant to section 31-31-706 (2), the board may
      modify or amend the plan provisions contained in part 4 of this
      article or a plan document or rules of a plan within the defined
      benefit system as the board deems prudent and necessary to
      administer benefits under the plan consistently and uniformly
      across the defined benefit system in a manner that does not result
      in an actuarial cost to the plan. Such modifications or
      amendments may include changes to the options for the
      distribution of benefits. This subsection (2.5) shall not be
      construed to authorize modification to the amount of a normal
      benefit.
      
           SECTION 2.  In Colorado Revised Statutes, 31-31-408, amend (1)
      introductory portion as follows:
      
           31-31-408.  Modification of state plan by the board.
      (1)  Notwithstanding any other provision of this part 4, and in addition to
      the authority granted in part 2 of this article, the board may modify
      the pension benefits and the age and service requirements for pension
      benefits set forth in this part 4 with respect to the members of the statewide
      defined benefit plan if:
      
           SECTION 3.  In Colorado Revised Statutes, 31-31-502, amend (5)
      as follows:
      
           31-31-502.  Statewide money purchase plan - creation -
      management. (5)  Except with respect to amendments necessary to comply
      with the state and federal law, The board may amend the pension benefits
      provided under the statewide money purchase plan document created
      pursuant to subsection (1) of this section only upon the approval of at least
      sixty-five percent of the active members of the plan and more than fifty
      percent of the employers having active members covered by the plan, each
      employer to be assigned one vote; except that employers having both active
      police and fire members in the plan shall be assigned two votes; and
      except that the board may amend the plan document, without
      further approval, as it deems prudent and necessary to comply
      with state and federal law or as it deems necessary to efficiently
      administer benefits under the plan.
      
           SECTION 4.  In Colorado Revised Statutes, add 31-31-815 as
      follows:
      
           31-31-815.  Amendment of plan provisions. The board may
      amend the provisions for disability and survivor benefits under
      this part 8 as it deems prudent and necessary to comply with state
      and federal law or as it deems necessary to efficiently administer
      the benefits under the plan.
      
           SECTION 5.  In Colorado Revised Statutes, 31-31-1102, amend (5)
      as follows:
      
           31-31-1102.  Statewide hybrid plan - creation - management.
      (5)  Except with respect to amendments necessary to comply with state and
      federal law, including amendments adopted pursuant to section
      31-31-204 (2.5), or amendments necessary to maintain the actuarial
      soundness of the statewide hybrid plan, the board may amend the plan
      document created pursuant to subsection (1) of this section only upon the
      approval of at least sixty-five percent of the active members of the plan and
      more than fifty percent of the employers having active members covered by
      the plan, each employer to be assigned one vote; except that employers
      having both active police and fire members in the plan shall be assigned two
      votes.
      
           SECTION 6.  Act subject to petition - effective date. This act
      takes 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
      8, 2012, if adjournment sine die is on May 9, 2012); 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 will not take effect unless
      approved by the people at the general election to be held in November 2012
      and, in such case, will take effect on the date of the official declaration of
      the vote thereon by the governor.
      
      
      
      
      ________________________________________________________
      Frank McNulty                      Brandon C. Shaffer
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                      Cindi L. Markwell
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO