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House adopts implementation plan for Proposition 130, moves $500 million reserve into PERA to fund $35 million annual payments
Summary
The Colorado House approved legislation implementing Proposition 130 by investing $500 million of state reserves through PERA to generate up to $35 million a year for public-safety recruitment and retention.
The Colorado House on May 3 adopted Senate Bill 310 to implement Proposition 130, the ballot measure directing state support for public-safety recruitment and retention.
Under the implementation plan approved by the legislature, the general fund reserve will make a $500 million allocation that will be invested through the Public Employees’ Retirement Association (PERA) investment program; the legislature expects that investment returns will fund up to $35 million per year for the program for up to 10 years. Supporters said the approach…
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