Senate Bill 16 would set new greenhouse gas reduction goals of 65% from 2005 benchmark levels by 2035, 80% by 2040, 90% by 2045 and 100% in 2050
PERA sues Tri-County Health, its departing counties seeking $50 million withdrawal fee
Out of all the political controversy the coronavirus has caused in Colorado, the pullout of Douglas County from the Tri-County Health Department — and the domino effect it had on Adams and Arapahoe counties — may be the action that ends up having the biggest consequences on some metro Denver governments. The costs of Arapahoe […]
Colorado’s pension system missed out on millions after lawmakers parked cash in low-interest account
Colorado’s pension system missed out on millions of dollars in potential investment revenue as a result of lawmakers’ decision last year to park money in a low-interest bank account, according to an analysis by nonpartisan legislative staff. The legislature set aside $380 million last year in a low-interest bank account to ensure the state could […]
The Colorado legislature’s IOU to the state’s public pensions is growing as retiree benefits get cut
Twelve years ago, a Colorado retiree with a public pension could expect a 3.5% raise every year. It was a generous perk of public service, made possible by the stock market booms of the 1990s, and then sustained by public officials who overlooked warning signs. But the good times came to an end with the […]
PERA’s investments generated billions in 2020. But the Colorado pension’s financial condition worsened.
It was another frustrating year for Colorado’s 631,000 public pension members. Despite a banner stock market year that saw Colorado’s Public Employees’ Retirement Association generate 17.4% returns on its investments — more than double its target — the state’s public pension still ended 2020 in worse financial shape than it started. PERA’s unfunded debt to […]
More contribution hikes, benefit cuts may be needed to close $4.5 billion hole in Colorado’s PERA
Colorado’s 634,000 public pension members face automatic contribution hikes and benefit cuts in 2022 thanks to a financial failsafe that’s expected to kick in for the second time in three years. It would also require more taxpayer money from public agencies already reeling from the pandemic’s economic fallout. The latest round of expected austerity measures […]
Colorado’s older teachers face a crossroads: Risk coronavirus or retire?
Tara Holst could have retired ahead of this school year, but it would have cost her about $40,000. The elementary school teacher, who works for Douglas County School District, was nearing 30 years of teaching and on the brink of qualifying for retirement under the Colorado Public Employees’ Retirement Association. She could have expedited her […]
As the financial crisis hits Colorado, PERA’s new oversight commission is sidelined
Two years ago, when Colorado lawmakers agreed to rescue the state pension plan from the financial brink for the second time in a decade, they insisted on new safeguards. Among them: A special oversight commission with a subcommittee comprised of lawmakers and outside financial experts to monitor the reforms, vet pension-related legislation, and — if […]
Before coronavirus, PERA had one of its best years in decades. Here are 3 concerns going forward.
Buoyed by stellar investment returns and the ongoing implementation of a legislative rescue package, Colorado’s state pension system in 2019 had one of its best years in decades. But — pension officials acknowledged with Friday’s release of the system’s annual finance report — the topline numbers belie the depths of the challenges the Public Employees’ […]
Colorado’s $30.3 billion coronavirus-sickened state budget explained in 10 numbers
Colorado lawmakers will begin debate Monday on the $30.3 billion coronavirus-sickened state budget — and no one is happy. “Do we love this budget? No,” said state Rep. Daneya Esgar, a Pueblo Democrat and chairwoman of the Joint Budget Committee. “This budget is hard. There are a lot of cuts in this budget.” The cuts […]