Colorado’s rising public pension costs are threatening workers’ retirement security and funding for essential public services.
The Colorado Public Employees’ Retirement Association (PERA) is only 61 percent funded.
The state owes public workers at least $25.8 billion in retirement benefits they have already earned.
The state’s current funding plan will cause PERA to remain in a precarious financial position for decades.
Risky Retirement: Colorado’s Uncertain Future and Opportunities for Reform, a report released today from the Laura and John Arnold Foundation, shows that PERA’s growing problems are mostly the result of irresponsible decisions by the state and outlines a series of reforms that would help improve PERA”s financial stability.