PERA reform

This afternoon (January 26, 2010) is the first hearing on a new bill to reform PERA, the Colorado Public Employees Retirement Association’s retirement plan. Senate Bill 10-001,”Concerning modifications to the Public Employee’s Retirement Association necessary to reach a one hundred percent funded ratio within the next thirty years,” calls for larger contributions from employers and employees and a smaller cost of living increase to help balance the retirement fund. The hearing will be held before the Senate Finance Committee in Room SCR 354 at 1:30. Live audio is available from the General Assembly website.

For more information about this issue, try the following resources:

Fiscal Impact of SB10-001 from the Colorado Legislative Council
PERA101, background information from the Colorado Public Employees Retirement Association