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State's windfall could shore up PERA


2020 was, without question, a year of crisis. Lives lost, social upheaval and economic shutdown. But now, some positive news, and an opportunity for sober leadership. Record growth in government revenue has led to an estimated $5.3 billion in state surplus funds. Legislators would be wise to use these funds to tackle some of the most fundamental and persistent challenges in our state budget.
Addressing the substantial debt that our Public Employee Retirement Association (PERA) has racked up should be a top priority.
In 2018, the Colorado legislature enacted significant reforms to PERA. The bi-partisan measures came as PERA faced a deficit of more than $28 billion, deep threats to its sustainability, and potentially dire consequences for retirees, taxpayers, school districts and the state’s credit rating. Reforms were designed to put PERA on a trajectory for 100% funding by 2048, a 30-year timeline. One of the measures in that reform package was an annual $225 million dir ....

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