SB 25-147: Modify Board Management Public Employees' Retirement Association

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Section 1 of the act defines the board of trustees of the public employees' retirement association (board) as a local public body for purposes of the open meetings law. Section 2 limits the terms of both elected and appointed members of the board to not more than 2 consecutive 4-year terms; except that the state treasurer is not subject to the 2-term limit. A former trustee who has served 2 consecutive terms may be reelected or reappointed to the board after not serving on the board for a period of at least one term. Section 2 also clarifies how such term limits apply in the case of a vacancy appointment. Section 3 requires the board, on and after January 1, 2025, to conduct its meetings in accordance with the open meetings law as a local public body and requires the board to post and regularly maintain and update the public employees' retirement association's (association) website with information including: The notice with specific agenda information, if available, for the board's next public meeting; The policy for and process by which a member of the public may participate in any public meeting of the board; A link or other means of public access to the records of past public meetings of the board; and The official email address of the board. Section 3 also requires that, on or before January 1, 2026, and on or before January 1 of each calendar year thereafter, the board post certain financial information of the association on the association's website. Section 4 clarifies that, while the board may delegate any of its responsibilities, duties, and powers to the executive director of the association or other designated agents, the board retains authority and responsibility for the management of the association and all its statutory duties and powers through a specified existing administrative process. (Note: This summary applies to this bill as enacted.)

Sponsors

Sponsors by party (alphabetical): Democratic 12 · Republican 3

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. June 3, 2025Governor Signed
2. May 2, 2025Signed by the Speaker of the House
3. May 2, 2025Sent to the Governor
4. May 1, 2025Signed by the President of the Senate
5. April 25, 2025House Third Reading Passed - No Amendments
6. April 24, 2025House Second Reading Special Order - Passed - No Amendments
7. April 21, 2025House Second Reading Laid Over Daily - No Amendments
8. April 17, 2025House Second Reading Laid Over to 04/21/2025 - No Amendments
9. April 15, 2025House Second Reading Laid Over Daily - No Amendments
10. April 11, 2025House Committee on Appropriations Refer Unamended to House Committee of the Whole
11. March 24, 2025House Committee on Finance Refer Unamended to Appropriations
12. March 12, 2025Senate Third Reading Passed - No Amendments

Showing 12 most recent of 17 actions. Full history