Summer media roundup

Over the summer, we saw a number of media stories related to Colorado’s Public Employees’ Retirement Association (PERA):

  • An article in the Colorado Gazette discussed the release of two reports on PERA on the same day: a fiscal impact study from PERA and the Risky Retirement report, which “highlighted a $25 billion unfunded liability that could threaten the future solvency of the state’s pension system.”

  • A guest commentary in the Denver Post called out the recent PERA report for being “the most deceptive study you’ll read this year.” Andrew G. Biggs, resident scholar at the American Enterprise Institute, discussed how PERA’s fiscal impact study “literally conveys no information of value to anyone.”

  • The Denver Post Editorial Board wrote about PERA’s “lackluster” returns in 2014, and the rise of its unfunded liability to $24.6 billion.

  • An article from Politico about New Jersey’s pension problems referenced Colorado as one of four states in the country that has a higher pension liability in proportion to its budget than New Jersey.

  • An article from the “What ails America’s economy” series pointed out that Colorado PERA’s debt “is more than $5,000 for every [Colorado] resident, nearly twice the amount per resident that Colorado’s state and local governments collect in taxes each year” and proposed three options for solving this debt problem.

As these articles illustrate, the financial health of Colorado PERA should be of concern for both the public servants who are counting on its retirement benefits and for all taxpayers who help pay for them. Do you agree that Colorado’s public servants, like all workers, deserve a path to retirement security? Sign our statement of support.

Leave a Reply

2 + = four