Save PERA Now
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Colorado’s PERA system is broken. Although reform measures were implemented in 2010, the calculations were wrong: the fund has not made money at the rate of return it assumed (8%), and people are living longer - but taxpayer and employee contribution rates never adjusted to cover the difference.
If another economic downturn occurs, the fund could run out of money. Not only does this risk the financial future of PERA recipients, it puts the state’s credit worthiness at risk today, potentially making the bond measures on which Colorado’s schools depend for critical infrastructure improvements too expensive.
It's only getting worse: If we don’t act now, we will incur an additional $2.32 billion in debt in 2018.
We’re asking lawmakers for legislation that:
- Closes the funding gap
- Allows more employees to choose retirement plans that meet their individual needs
- Provides better legislative oversight over PERA
- Allows the plan to make automatic adjustments in contributions and benefits when circumstances change
Most importantly, we want to ensure that the sacrifice is born equally, while creating a foundation that reflects the interests of today’s workforce and safeguards the future of PERA.
Join us in demanding that the Colorado legislature save this today, once and for all. Demand that they work together to make fair, well-balanced changes. This is the perfect time to finally get this right.
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