(1) An amortization period for each of the state division, school division, local government division, judicial division, and Denver public schools division trust funds shall be calculated separately. A maximum amortization period of thirty years shall be deemed actuarially sound. Upon recommendation of the board, and with the advice of the actuary, the employer or member contribution rates for the plan may be adjusted by the general assembly when indicated by actuarial experience.
(2) On or before November 1, 2009, the board shall submit specific, comprehensive recommendations to the general assembly regarding possible methods to respond to the decrease in the value of the association's assets, including real estate, private equity, and other investments, to decrease the amortization period of each division of the association, and to ensure that each division of the association will become and remain fully funded.
Source: L. 87: Entire article R&RE, p. 1051, § 1, effective July 1. L. 97: Entire section amended, p. 63, § 2, effective July 1; entire section amended, p. 772, § 8, effective July 1. L. 2004: Entire section amended, p. 1940, § 7, effective January 1, 2006. L. 2006: Entire section amended, p. 1176, § 4, effective May 25. L. 2009: Entire section amended, (SB 09-282), ch. 288, p. 1336, § 10, effective January 1, 2010.
Editor's note: (1) This section is similar to former §§ 24-51-105 and 24-51-206 as they existed prior to 1987. For a detailed comparison, see the comparative tables located in the back of the index.
(2) Amendments to this section by House Bill 97-1082 and House Bill 97-1114 were harmonized.