Colorado Legislative Council Staff
NO FISCAL IMPACT
January 5, 1999
House Local Government
Steve Tammeus (303-866-2756)
TITLE: CONCERNING TERMINATION UPON REMARRIAGE OF BENEFITS PAID UNDER THE STATEWIDE DEATH AND DISABILITY PLAN TO A SURVIVING SPOUSE OF A FIRE AND POLICE PENSION ASSOCIATION MEMBER WHO DIES WHILE IN ACTIVE SERVICE.
Summary of Assessment
This bill amends the portion of the Fire and Police Pension Association Statewide Death and Disability Plan that provides benefits to surviving spouses of members who die while in active service. The bill allows surviving spouses to continue to receive benefits upon remarriage. Under current law, the benefits terminate upon remarriage.
The bill will become effective on January 1, 2000, or upon proclamation of the Governor in the event a referendum petition is filed. The bill will apply to all FPPA members receiving or eligible to receive benefits provided by the plan on or after the effective date.
The provisions of this bill will not affect state, or local government, revenue or expenditures. The statewide death and disability plan is no longer funded by the State. Funding is provided by the members and/or their respective employers in the form of a mandatory contribution to the plan fund. The FPPA believes the number of surviving spouses who elect to remarry will be minimal, therefore, the provisions of this bill will not affect local government contributions, or the actuarial soundness of the plan. This bill is assessed as having no fiscal impact.
Fire and Police Pension Association