NOTE: The governor signed this measure on 3/13/2015.
      
      
      SENATE BILL 15-028
      
      
      BY SENATOR(S) Balmer;
      also REPRESENTATIVE(S) Ginal, Court, Melton, Fields, Salazar,
      Williams.
      
      
      Concerning requirements for employee participation in a plan
           administered by the fire and police pension association.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 31-31-401, amend (4)
      (a); and add (4) (c) as follows:
      
           31-31-401.  Applicability of plan. (4) (a)  A department chief hired
      on or after April 8, 1978, shall be exempted from the statewide defined
      benefit plan, upon the execution of a written agreement between such the
      department chief and the chief's employer that provides for the
      department chief's participation in social security or in a federal
      insurance contribution act replacement plan as allowed under
      the federal internal revenue code, and the submission of notice to the
      association. Alternatively, A department chief with the agreement of the
      chief's employer, may elect coverage under may satisfy the federal
      insurance contribution act replacement plan requirement by
      participating in an employer sponsored plan, the statewide money
      purchase plan, or the statewide hybrid plan. The transfer of member
      and employer contributions between the statewide defined benefit plan and
      the statewide money purchase plan shall be consistent with the provisions
      of section 31-31-501. 
      
           (c)  A department chief exempted pursuant to paragraph (a)
      of this subsection (4) may maintain coverage for disability and
      survivor benefits under part 8 of this article if the department
      chief participates in the statewide money purchase plan, the
      statewide hybrid plan, or a local money purchase plan that is
      qualified under section 401(a) of the federal internal revenue
      code and that has a contribution rate of not less than sixteen
      percent.
      
           SECTION 2.  In Colorado Revised Statutes, amend 31-31-704.7
      as follows:
      
           31-31-704.7.  Participation in statewide death and disability
      plan. (1)  Any employer participating in the social security supplemental
      plan created pursuant to section 31-31-704.6 may also elect coverage under
      the statewide death and disability plan by filing with the board a resolution
      to that effect from the governing body of such employer.
      
           (2)  Any social security employer that offers coverage
      under the statewide death and disability plan must also
      participate in the social security supplemental retirement plan
      created pursuant to section 31-31-704.6. Coverage under the
      statewide death and disability plan for any social security
      employer not participating in the social security supplemental
      retirement plan may be terminated by the board on or after
      January 1, 2017.
      
           SECTION 3.  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
      5, 2015, if adjournment sine die is on May 6, 2015); 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 2016
      and, in such case, will take effect on the date of the official declaration of
      the vote thereon by the governor.
      
      
      
      
      ____________________________  ____________________________
      Bill L. Cadman                Dickey Lee Hullinghorst
      PRESIDENT OF                     SPEAKER OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
      
      
      ____________________________  ____________________________
      Cindi L. Markwell                      Marilyn Eddins
      SECRETARY OF                 CHIEF CLERK OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO