SB 19-173

  • Colorado Senate Bill
  • 2019 Regular Session
  • Introduced in Senate Apr 22, 2019
  • Passed Senate Apr 22, 2019
  • Passed House Apr 29, 2019
  • Signed by Governor May 20, 2019

Colorado Secure Savings Plan Board

Abstract

Colorado secure savings plan - board - studies and analyses - report - appropriation. The Colorado secure savings plan board (board) is established to study the feasibility of creating the Colorado secure savings plan and other appropriate approaches to increase the amount of retirement savings by Colorado's private sector workers. The board consists of the state treasurer or the treasurer's designee and 8 additional trustees with certain experience who are appointed by the governor. The board is required to conduct the following 4 analyses or assessments by a specified date: A detailed market and financial analysis to determine the financial feasibility and effectiveness of creating a retirement savings plan in the form of an automatic enrollment payroll deduction IRA, to be known as the Colorado secure savings plan; A detailed market and financial analysis to determine the financial feasibility and effectiveness of a small business marketplace plan to increase the number of Colorado businesses that offer retirement savings plans for their employees; An analysis of the effects that greater financial education among Colorado residents would have on increasing their retirement savings; and An analysis of the effects that not increasing Coloradans' retirement savings would have on current and future state and local government expenditures. The board may accept any gifts, grants, and donations, or any money from public or private entities to pay for the costs of the analyses. The board may delay implementation of one or more of the analyses if it does not obtain adequate money to conduct the analyses. If after conducting the analyses, the board finds that there are approaches to increasing retirement savings for private sector employees in a convenient, low-cost, and portable manner that are financially feasible and self-sustaining, the board is required to recommend a plan to implement its findings to the governor and the general assembly. For the 2019-20 state fiscal year, $800,000 from the general fund is appropriated to the department of the treasury for the purpose of conducting the analyses or assessments, including operating expenses. (Note: This summary applies to this bill as enacted.) Read More

Bill Sponsors (4)

Votes


Actions


May 20, 2019

Office of the Governor

Governor Signed

May 13, 2019

Office of the Governor

Sent to the Governor

House

Signed by the Speaker of the House

May 10, 2019

Senate

Signed by the President of the Senate

Apr 29, 2019

House

House Third Reading Passed - No Amendments

Apr 27, 2019

House

House Second Reading Special Order - Passed - No Amendments

Apr 26, 2019

House

House Second Reading Special Order - Laid Over Daily - No Amendments

Apr 25, 2019

House

House Second Reading Special Order - Laid Over Daily - No Amendments

House

House Committee on Appropriations Refer Unamended to House Committee of the Whole

  • Referral-Committee
  • Committee-Passage
Appropriations House Committee of the Whole

Apr 24, 2019

House

House Committee on Business Affairs & Labor Refer Unamended to Appropriations

  • Referral-Committee
Appropriations Business Affairs & Labor

Apr 22, 2019

House

Introduced In House - Assigned to Business Affairs & Labor

  • Introduction
Business Affairs & Labor

Senate

Senate Third Reading Passed - No Amendments

Apr 19, 2019

Senate

Senate Third Reading Laid Over Daily - No Amendments

Apr 18, 2019

Senate

Senate Second Reading Passed with Amendments - Committee

Apr 16, 2019

Senate

Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole

  • Referral-Committee
  • Committee-Passage
Senate Committee of the Whole Appropriations

Mar 14, 2019

Senate

Senate Committee on Finance Refer Unamended to Appropriations

  • Referral-Committee
Appropriations Finance

Mar 01, 2019

Senate

Introduced In Senate - Assigned to Finance

  • Introduction
Finance

Bill Text

Bill Text Versions Format
Committee Amendment PDF
PA1 (04/16/2019) PDF
Introduced (03/01/2019) PDF
Engrossed (04/18/2019) PDF
Reengrossed (04/22/2019) PDF
Revised (04/27/2019) PDF
Rerevised (04/29/2019) PDF
Final Act (05/13/2019) PDF
Signed Act (05/20/2019) PDF

Related Documents

Document Format
Fiscal Note SA1 (04/15/2019) PDF
Fiscal Note SA2 (04/24/2019) PDF
Fiscal Note FN1 (03/13/2019) PDF
Fiscal Note FN2 (08/02/2019) PDF

Sources

Data on Open States is updated periodically throughout the day from the official website of the Colorado General Assembly.

If you notice any inconsistencies with these official sources, feel free to file an issue.