SB 17-013

Senate Bill 17-013, which has been signed into law, allows Colorado's Fire and Police Pension Association (FPPA) to create a plan that lets multiple employers join together for deferred compensation benefits. This means police officers and firefighters can have more options for saving money for retirement through their jobs. The bill affects the FPPA board of directors and all participating employers who want to offer these types of retirement savings plans to their employees. Since it has been signed, this plan is now available for implementation by the relevant organizations.

Official Summary

Police Officers' and Firefighters' Pension Reform Commission. To assist fire and police pension association (FPPA) employers in establishing a deferred compensation plan, the FPPA board of directors (board) is currently authorized to develop a master deferred compensation plan document for use by employers to establish individual plans. The bill authorizes the board to develop a multi-employer deferred compensation plan document to allow employers to join a multi-employer plan. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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