Colorado

Jan 27, 2010 9:48 AM by Associated Press

Colorado state pension changes given initial nod

Colorado lawmakers have given initial approval to a plan they say will rescue the state's pension system. The Senate Finance Committee approved the plan Tuesday after sponsors said it shares the burden with employers and employees.

The bill now goes to the Senate Appropriations Committee. The bill would increase contributions from employers by 1.5 percent, contributions from employees by 2.5 percent and fix the rate of cost of living allowances at 2 percent. There would be a one-year cost of living time-out tied to inflation to balance the fund.

Senate Republican leader Josh Penry says the changes are aimed at preventing the system from going broke.

»Comments

»Topics in this article

More News

Weather - Forecast
Story Photo

10 hours ago

Warm Till Saturday

Temperatures start to climb again for Friday and Saturday where many locations will be in the 70s. However, by Saturday, the clouds...

Most Popular

Top Videos

1 2 3 4