HB 1026: Expanding Plan Options for PERA - Colorado

Final Act → Signed Act · 4 edits · Jun 3, 2026

MODERATE

This bill expands retirement plan options for the Public Employees' Retirement Association (PERA) by adding new definitions for 'noncovered time' and modifying rules for purchasing service credit. The changes clarify eligibility requirements for members joining after 1999, allowing them to purchase credit for nonqualified service under specific conditions, while also correcting various typos and formatting inconsistencies in the statute.

Scope change

The bill applies to members of the Public Employees' Retirement Association (PERA), specifically updating rules for those who joined on or after January 1, 1999, regarding the purchase of service credit for noncovered employment time.

DEFINITION

Added new definitions for 'noncovered time' and 'nonqualified service' to clarify what periods of employment count toward retirement benefits.

ELIGIBILITY

Updated eligibility rules for purchasing service credit, requiring members who joined after 1999 to have five years of earned service credit before buying credit for nonqualified service.

REQUIREMENT

Modified documentation and certification requirements for purchasing service credit, including clarifying rules for members under 21 who were employed during noncovered time.

TECHNICAL

Corrected numerous typos, spacing errors, and formatting inconsistencies throughout the statute text.

Rerevised → Final Act · 5 edits · May 19, 2026

MODERATE

This bill expands retirement options for Public Employees' Retirement Association (PERA) members by allowing them to purchase service credit for specific periods of unemployment or non-covered employment. It introduces new definitions for 'noncovered time' and 'qualified service' to clarify eligibility, while also adding strict requirements for members who joined PERA after 1999 to ensure they have sufficient prior service before buying credit for non-qualified periods.

Scope change

The bill expands the scope of service credit purchases to include noncovered employment time, with specific rules distinguishing between members who joined PERA before and after January 1, 1999.

DEFINITION

Added new definitions for 'noncovered time', 'nonqualified service', and 'qualified service' to clarify what periods of employment count toward retirement eligibility.

ELIGIBILITY

Modified eligibility rules to require members who joined PERA on or after January 1, 1999, to have at least five years of earned service credit before purchasing credit for non-qualified service, whereas those who joined earlier only need one year.

Clarified that members cannot purchase service credit for time when they were under 21 and unemployed, but may do so if they were under 21 and employed, provided they submit proof of employment.

REQUIREMENT

Added new requirements mandating that members provide documentation of employment dates and salary records, plus certification from other retirement programs confirming the service credit has not vested elsewhere.

FISCAL

Updated the allocation of money to the health care trust fund to include specific portions derived from member payments for purchasing service credit related to noncovered employment.

Revised → Rerevised · 3 edits · Apr 23, 2026

MINOR

The bill header was updated from 'Revised' to 'Rerevised' to reflect that all amendments have been adopted in the Second House. Additionally, the Senate's 3rd reading status was added with a specific date of April 23, 2026, and the list of Senate sponsors was expanded to include five new legislators. These are primarily administrative updates tracking the bill's legislative progress rather than changes to the bill's actual policy content.

TECHNICAL

The bill version label changed from 'Revised' to 'Rerevised' to indicate the inclusion of all amendments adopted in the Second House.

A new line was added stating the bill was read for the 3rd time in the Senate on April 23, 2026, unamended.

Five new names were added to the Senate sponsorship list: Amabile, Coleman, Cutter, Danielson, and Kipp.

Reengrossed → Revised · 4 edits · Apr 22, 2026

MODERATE

The bill status changed from 'Reengrossed' to 'Revised' after the Senate adopted amendments on April 22, 2026. The legislative sponsor was updated from Caroline Martin to Sam Anderson, and the bill now reflects Senate amendments rather than House amendments. The substantive policy content regarding retirement plan options for public employees appears unchanged in this version.

Scope change

The bill's scope remains focused on expanding plan options for public employees' retirement association; no changes to applicability were identified in this markup.

TECHNICAL

Bill status label changed from 'Reengrossed' to 'Revised' to reflect Senate amendments.

Legislative sponsor name updated from Caroline Martin to Sam Anderson.

Committee assignments were reorganized to show Senate committee order.

Senate amendment date of April 22, 2026 was added to the document header.

Engrossed → Reengrossed · 3 edits · Mar 5, 2026

MINOR

The bill was reengrossed to include additional co-sponsors and updated the header to reflect amendments adopted during the House of Introduction. The text of the bill itself remains unchanged in this version, as the substantive policy sections were not modified in this specific diff.

TECHNICAL

Added five new co-sponsors to the House sponsorship list (Camacho, Carter, Clifford, Goldstein, Gonzalez R., Joseph, Lieder, Lindsay, Nguyen, Phillips, Rutinel, Titone, Valdez).

Updated the header title from 'ENGROSSED' to 'REENGROSSED' and adjusted the subtitle to indicate that amendments were adopted in the House of Introduction.

Inserted a new notice stating that a summary for the reengrossed version will be available after the third reading, dated March 5, 2026.

Introduced → Engrossed · 5 edits · Mar 3, 2026

MODERATE

The bill was reengrossed to reflect amendments made during the second reading in the House, updating the official status from 'Introduced' to 'Engrossed' and incorporating changes to the bill's title and summary. The text includes formatting updates and the addition of a specific date (March 3, 2026) and page markers, indicating the legislative process has advanced to a later stage.

Scope change

The bill's substantive scope regarding PERA service credit purchase rules appears unchanged in the provided text, as the visible changes are primarily procedural (status update) and formatting.

TECHNICAL

Updated the bill status header from 'Introduced' to 'Engrossed' to reflect that amendments have been adopted.

Added a note stating this version includes all amendments adopted on second reading in the House.

Inserted the date 'March 3, 2026' and specific page headers, likely reflecting the date of the latest amendment or printing.

Adjusted the House Committee list to include 'Appropriations' alongside 'Finance'.

Minor formatting adjustments to the bill title and summary text to accommodate the new status and layout.

Expanding Plan Options for PERA

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