Colorado officials looking at new 401(a) plan

Colorado Public Employees' Retirement Association officials and Gov. Bill Owens are negotiating over a proposed bill that would add a new 401(a) plan. The new plan is among other measures proposed by association officials to keep the $29 billion Denver-based system closer to fully funded, said Katie Kaufmanis, PERA spokeswoman. The bill will not be introduced in the state Senate until the Mr. Owens and PERA agree on its contents, said Republican state Sen. Dave Owen, who would be the chief sponsor. A separate bill that would eliminate the matching employer contributions in PERA's $1 billion 401(k) defined contribution plan passed the state Senate on March 29 and has been assigned to the state House Business Affairs and Labor Committee.