1999
SENATE JOINT RESOLUTION 99-010
BY SENATORS Arnold, Anderson, Lamborn, Pascoe, Powers, Reeves, Tebedo, Wham, Congrove, Dennis, Evans, Musgrave, Owen, and Sullivant;
also REPRESENTATIVES Gotlieb, Alexander, Johnson,
McPherson, Miller, Paschall, Allen, Bacon, Berry, Chavez, Clarke,
Coleman, Dean, Decker, Fairbank, Gagliardi, George, Grossman,
Hefley, Hoppe, Johnson, Kaufman, Kester, King, Larson, Lawrence,
Lee, Leyba, Mace, McKay, McPherson, Miller, Mitchell, Morrison,
Pfiffner, Plant, Ragsdale, Saliman, Sinclair, Smith, Spence, Stengel,
Sullivant, Swenson, Tapia, Taylor, Tochtrop, Tool, Tupa, Veiga,
Vigil, Webster, S. Williams, T. Williams, Windels, Witwer, Young,
and Zimmerman..
CONCERNING THE COLORADO GENERAL ASSEMBLY'S OPPOSITION
TO ANY FEDERAL LEGISLATION THAT WOULD MANDATE PARTICIPATION BY
STATE AND LOCAL GOVERNMENT EMPLOYEES IN THE FEDERAL SOCIAL SECURITY
SYSTEM.
WHEREAS, Most Colorado state and local government
employees have been provided pension plans as a substitute to
mandatory participation in the federal social security system;
and
WHEREAS, These plans cover over 200,000 different
state and local government employees, including employees of school
districts, police officers, firefighters, faculty at institutions
of higher education, employees of municipalities, as well as thousands
of benefit recipients; and
WHEREAS, Colorado's state and local government employee
pension plans have been carefully developed with the cooperation
of the Colorado General Assembly, employers, and employees to
meet the unique needs of such public employees at a reasonable
cost; and
WHEREAS, These pension plans have been funded on
an actuarially sound basis and the moneys in such plans have been
appropriately and successfully invested in diversified investments
in accordance with modern portfolio theory; and
WHEREAS, State and local government employees in
Colorado are covered by many different, separate retirement plans,
including statewide plans, local plans, defined benefit plans,
and defined contribution plans, all of which meet applicable federal
standards; and
WHEREAS, Colorado fire, police, and state trooper
pension plans offer benefits that are designed to address the
physical demands and high risks inherent in public safety work
and that are not available through the federal social security
system, including lower retirement ages and comprehensive death
and disability benefits; and
WHEREAS, It is anticipated that federal legislation
will be introduced that would include a requirement that state
and local government employees hired after a certain date participate
in the federal social security system; and
WHEREAS, Current estimates indicate that participation
by state and local government employees in the federal social
security system would extend the solvency of the applicable trust
funds by only two years, after which time benefits payable to
retiring state and local government employees would cause a depletion
of moneys in those trust funds; and
WHEREAS, The lack of mandatory participation in the
federal social security system by state and local government employees
in Colorado has not been a cause of financial problems affecting
that system, and Colorado state and local government employees
receive no special or unfair benefits from that system; and
WHEREAS, If participation in the federal social security
system is mandated for Colorado state and local government employees,
then integrating the federal system with existing state and local
pension plans would be an extremely complex process that is likely
to result in the loss of some benefits to Colorado state and local
government employees; and
WHEREAS, A federal mandate that Colorado state and
local government employees participate in the federal social security
system would threaten not only the integrity of the pension systems
in place for such employees, but also the public safety and general
welfare of the citizens of Colorado; now, therefore,
Be It Resolved by the Senate of the Sixtysecond
General Assembly of the State of Colorado, the House of Representatives
concurring herein:
That the Congress of the United States is urged to preserve the right of state and local governments to operate pension plans for their employees in place of the federal social security system, and to support legislation for responsible reform of the federal social security system that does not include mandatory participation by employees of state and local governments.
Be It Further Resolved, That
a copy of this Resolution be sent to each member of Colorado's
delegation to the United States Congress.
_________________________ _________________________
Ray Powers Russell George
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
_________________________ _________________________
Patricia K. Dicks Judith M. Rodrigue
SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES