The Colorado PERA Board of Trustees voted to support SB25-147, a bill that proposes changes to statute regarding Board operations and transparency. The Trustees held a special meeting on Friday, February 28 to discuss the bill and take a position.

The bill from sponsors Sen. Byron Pelton, Sen. Chris Kolker, Rep. Lori Garcia Sander, and Rep. Meghan Lukens would modify state law to impose term limits on Trustees; define the PERA Board as a local public body instead of a state public body as it applies to the Colorado Open Meetings Law; and require that PERA post certain financial information online, including staff compensation and various other administrative expenses.

In addition to the above changes, the bill sets out in state law some current Board and staff practices, including:

• Posting Board meeting materials and recordings on PERA’s website: PERA currently streams every Board meeting on copera.org and YouTube, and recordings are available afterward. Agendas for Board meetings are posted in advance and materials from past meetings are also available online.
• Providing instructions for members of the public to participate in Board meetings: PERA currently provides multiple ways to communicate with the Board, including public comment (in person and over the phone) at every regular meeting and a Board-specific email address on the Contact Us page.
• Posting audited financial statements online: PERA’s Annual Comprehensive Financial Report (ACFR) contains detailed information about PERA’s finances, membership, and operations. The ACFR and all other annual financial reports are available online.

In their conversation about the bill and its proposed changes, Trustees discussed the importance of transparency in maintaining trust with stakeholders. The Board’s vote to support the bill demonstrates its commitment to making PERA more open and accountable.

“Strong governance and clear communication with our members and the public are vital to a mission-driven organization like Colorado PERA, and we believe Senate Bill 147 helps affirm our commitment to transparency,” said CEO/Executive Director Andrew Roth. “I want to thank the sponsors for bringing this bill before the Legislature, and we look forward to further engagement with policymakers as it makes its way through the General Assembly.”

On February 25, the Senate Finance Committee voted unanimously to refer the amended bill to Appropriations, where it remains under consideration.

Learn more and read the full text of the bill on the General Assembly’s website.