An opportunity for lawmakers to fix Colorado’s broken public pension system
Last fall, members of the Colorado Public Employee Retirement Association (PERA) got some bad news: the amortization periods for the public pension system’s two largest funds had ballooned dangerously. Under current assumptions, the state fund would not be fully funded for 55 years, and the even larger school fund would not be fully funded for 75 years.
PERA deserves an earful on its listening tour
Members and non-members alike should be prepared to ask PERA’s board some tough questions about their credibility.
PERA’s Problems in 2013
The trajectory of the Public Employee Retirement Association of Colorado’s (PERA) financial condition has been anything but linear. From times of seeming excess to times of projections for failure, the public employee pension scheme has changed radically over time. As of 2013, expected improvements to the system’s outlook have not materialized, and PERA is once again in crisis. While far from alone in the gov- ernment employee problem, Colorado may be facing one of the worst current circumstances.
Solving the Funding Crises in PERA
The paper is based on testimony presented to the Senate Finance Committee regarding the soundness of the Public Employees Retirement Association fund. Dr. Poulson recommends steps to fix the actuarial problems, and modifying the retirement.
$24 billion dollars and counting: Time to Reform PERA
Colorado citizens no longer can afford a state pension system dominated by special interests.
