by Associated Press Published: February 24,2010
Tags: General Assembly, Gov. Bill Ritter, PERA
DENVER (AP) – Colorado Gov. Bill Ritter on Tuesday signed a bill that cuts state employee retiree benefits to prevent the pension system from going broke. Ritter said the cuts are difficult but necessary. Provisions in the bill require shared sacrifice and shared solutions from public employers and employees without imposing an unfair or undue [...] [...]
Proposal includes raising retirement age This week the Colorado Legislature began hearings on Senate Bill 01, a bipartisan measure aimed at restoring long-term solvency to the Public Employees Retirement Association, the public pension plan that covers more than 425,000 active and retired public-sector workers in Colorado. The measure was crafted in response to the severe [...] [...]
by John Hazlehurst Published: July 31,2009
Tags: PERA
Most public employees in El Paso County must, by state law, join the Colorado Public Employees Retirement Association.PERA covers the employees of Memorial Health System, Colorado Springs Utilities, the City of Colorado Springs and of every public school district in the county – but not employees of El Paso County. County employees, as well as [...] [...]
by Staff Writer Published: July 17,2009
Tags: PERA
During the late 1990s, the Colorado Public Employees Retirement Association was one of the healthiest pension funds in America. For many years, PERA had combined successful investment strategies with a comparatively restrained benefit structure, achieving a funded ratio of more than 100 percent. That meant the fund had more than enough assets to cover potential [...] [...]
by John Hazlehurst Published: July 17,2009
Tags: PERA
State retirement association seeking help from legislature to ensure solvency The CEO of the Colorado Public Employees Retirement Association now admits that his organization cannot continue to meet its obligations without “sweeping legislative changes.” Testifying on Monday before the Legislative Audit Committee, Meredith Williams painted a bleak picture for the lawmakers. “We can’t invest our way [...] [...]
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