Employer has locations in CO but are remote, they have a listing for my team with a salary range (due to CO’s salary range transparency law) with an upper-end that is higher than my current salary despite many years of good service, is that range an aggregate of real salary averages on the team?

Subject line pretty much says it all. If it isn't an aggregate of real salary ranges, is that something that has any accountability aspect? If it is real, what's the best way I can leverage this into a raise. After many years on this team and a position of some responsibility, seeing the listing range is a huge gut check and has me rethinking my future with this company. Obviously I know the best leverage is getting an exterior job offer and making them counter using the listing to justify the raise, but I'm curious what other thoughts some of you might have if you've had any personal experience leveraging this law. I don't live in CO.