Expands plan options for the Public Employees' Retirement Association (PERA) in Colorado.

This bill expands plan options for the Public Employees' Retirement Association (PERA) in Colorado by allowing members to purchase service credit for noncovered employment periods, including periods of unemployment. Members who became members before January 1, 1999, can purchase service credit for nonqualified service if they have at least one year of earned service credit with the association. Members who became members on or after January 1, 1999, can purchase service credit for nonqualified service if they have at least five years of earned service credit.

Expands plan options for the Public Employees' Retirement Association (PERA) in Colorado.

This bill expands plan options for the Public Employees' Retirement Association (PERA) in Colorado by allowing members to purchase service credit for noncovered employment periods, including periods of unemployment. Members who became members before January 1, 1999, can purchase service credit for nonqualified service if they have at least one year of earned service credit with the association. Members who became members on or after January 1, 1999, can purchase service credit for nonqualified service if they have at least five years of earned service credit.