The Pueblo Chieftain: PERA reform in trouble
Author: The Pueblo Chieftain Editorial Board - April 25, 2018 - Updated: April 25, 2018
Faced with $32 billion in unfunded liabilities, the Colorado Public Employees’ Retirement Association is in very serious jeopardy of falling short of the income needed to meet future pension obligations to state, local government and school employees — unless the system is fixed and soon.
The Republican-controlled state Senate has passed legislation (SB200) to reform PERA so that those promised public employee pensions will get their benefits. A key Senate solution is a modest increase in the employees’ contribution, currently 8 percent of pay, to 11 percent over the next two years.
Read more at The Pueblo Chieftain.