Colorado Legislative Council Staff
NO FISCAL IMPACT
January 7, 1998
Harry Zeid (866-4753)
TITLE: CONCERNING THE EFFECT OF EMPLOYMENT AFTER RETIREMENT ON THE AMOUNT OF RETIREMENT BENEFITS PAYABLE TO PERSONS RECEIVING RETIREMENT BENEFITS THROUGH A SCHOOL DISTRICT’S RETIREMENT FUND.
Summary of Assessment
This bill would increase the amount of time that a teacher receiving benefits through a school district retirement fund may be reemployed to provide services to the school district, comparable to the amount of time that a teacher receiving benefits through the Public Employees Retirement Association (PERA) may be reemployed. The criteria would be employment for full and half days that does not exceed 110 full days per calendar year; hourly employment that does not exceed 720 hours in the calendar year; and a combination of full day, half day, and hourly employment that does not exceed 110 full days per calendar year. If a retiree is employed by the school district for a period of time that exceeds the limitations, the amount of the pension or retirement benefits shall be reduced by an amount equal to the compensation attributable to the period that exceeds the limitations.
The bill would not affect the revenues or expenditures of the state or local school districts. Therefore, bill is assessed as having no fiscal impact. The bill would become effective July 1, 1998, and would apply to hours worked by a retired employee after that date.