Tag: pinnacol assurance
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Proposal outlines $300M deal separating Pinnacol from Colorado state government
Colorado lawmakers are weighing a proposal that would allow Pinnacol Assurance to sever its remaining ties to the state in exchange for a $300 million payment, a long‑debated shift that supporters say could stabilize the insurer’s future and help plug a looming budget shortfall. A draft of the bill obtained by Colorado Politics spells out…
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Pinnacol separation bill delayed as Colorado budget remains in flux due to $1.5B deficit
A bill that would allow Pinnacol Assurance to formally sever its remaining ties with the state appears unlikely to emerge anytime soon, as House leaders juggle a massive budget shortfall, unresolved negotiations with key stakeholders, and growing doubts about whether the insurer’s proposed $400 million payment could be counted on to help balance next year’s…
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Colorado legislators consider $500 million in general fund cuts amid $1.5 billion deficit
The legislature’s Joint Budget Committee is working through a list Wednesday of about 150 suggestions to cut as much as $1.5 billion in general fund dollars out of next year’s budget. The largest on the list prepared by JBC staff is $198 million in cuts to the funding for the annual senior and disabled veterans…
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Split vote by Colorado Title Board stops ballot push to privatize Pinnacol Assurance
The Colorado Title Board, a three-member panel that sets the language for ballot measures, recently reversed a prior decision and blocked a proposal to privatize Pinnacol Assurance from moving forward. The main issue decided by the title board is whether a ballot measure meets the state’s constitutionally mandated single-subject law and whether its content fits…
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Colorado business coalition moves Pinnacol privatization fight from Capitol to voters
The future of Pinnacol Assurance is moving away from the governor’s office and the legislature, with a new ballot initiative aiming to privatize the insurer and use the proceeds to expand job training across Colorado. Colorado Succeeds, a coalition of business leaders focused on education, is pursuing a ballot measure to allow Pinnacol, the quasi-government…
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PERA to Pinnacol: $302 million, please
The Public Employees’ Retirement Association has come up with a number for Pinnacol Assurance, the state’s largest workers’ compensation insurer of last resort, to buy out its employees and retirees’ share of PERA’s pension. Pinnacol, with the support of Gov. Jared Polis, is hoping to privatize, a deal that would bring $400 million into state…