Comment of the Day

Reader: Anyone Who Can Add and Multiply Knows PERA Isn't and Can't Be Sustainable

Reader: Anyone Who Can Add and Multiply Knows PERA Isn't and Can't Be Sustainable
Heather Fairchild

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Teachers rallied for more pay at the State Capitol in April. - HEATHER FAIRCHILD
Teachers rallied for more pay at the State Capitol in April.
Heather Fairchild
"Legislature Slashes Pension Benefits for Government Workers"

More teachers protesting at the Capitol. - HEATHER FAIRCHILD
More teachers protesting at the Capitol.
Heather Fairchild
"Why Is PERA in High-Fee, High-Risk Investments?"

Protesters take to the street. - HEATHER FAIRCHILD
Protesters take to the street.
Heather Fairchild
"At PERA, Retirees Face Cuts While Wall Street Gets Millions"

The PERA reform bill includes language designed to give lawmakers more information about controversial investments that have delivered hundreds of millions of dollars in fees to Wall Street firms.

The narrow disclosure language in the pension bill — which still keeps fee details hidden from the general public — was added following our investigation showing that in recent years, PERA has paid more than $1 billion in such fees even as the pension fund has delivered returns that significantly trail a low-fee stock index fund.

The bill slashes cost-of-living increases and requires higher pension contributions from educators, firefighters, cops and other public-sector workers covered by PERA. The changes — opposed by the state’s largest teachers' union and approved after recent teacher protests at the Colorado State Capitol — were designed to shore up the finances of PERA, which faces a $32 billion gap between what it has promised retirees and what it has in the bank.

What do you think of PERA reform? Comment on this post or email [email protected]
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