Current Legislation

Visit PERA on the Issues for information on the 2021 Legislative session.

Past Legislation

Senate Bill 18-200

On June 4, 2018, Governor Hickenlooper signed legislation that will restore PERA to full funding in 30 years.

Read Statement From PERA

SB 200 involves all stakeholders—PERA members, employers, and retirees—and means that PERA’s membership and Colorado taxpayers will benefit from a stronger, more stable retirement fund.

Impact of Changes

As SB 200 progressed from a package of reforms recommended by PERA’s Board of Trustees to the versions passed by the Senate and House, the provisions changed. However the final bill shares the responsibility across all stakeholders to ensure that PERA remains a powerful benefit for Colorado’s public employees.

Comparison of Changes

More information is also available on the PERA on the Issues website, where you can also sign up to receive the PERA on the Issues bi-weekly newsletter. If you would like background information on PERAtour, the 2017 statewide community outreach effort, the PERA Board’s recommended package of reforms, and PERA’s financial health, explore the resource library below.

Automatic Adjustment Provision

Automatic Adjustment Provision

Leading Change, Lasting Security

Leading Change, Lasting Security

A brief history…with PERA

A brief history…with PERA

Total PERAtour Touchpoints

Senate Bill 14-214 Independent Studies on Colorado PERA

In the 2014 legislative session, the Joint Budget Committee sponsored Senate Bill 14-214, which created and funded three separate studies to be conducted by neutral, outside experts to examine aspects of the benefit and funding structure of PERA. The Board of Trustees supported the bill and it was signed into law by Gov. Hickenlooper on June 4, 2014. All three studies were completed in 2015.

Milliman Retirement Benefits Study

In January 2015, the Colorado Department of Personnel and Administration incorporated retirement benefits into the State’s annual total compensation survey, which was conducted by the actuarial firm Milliman. The Colorado General Assembly had asked that the salary survey include the value of the PERA retirement benefit. Specifically, Senate Bill 14-214 required a comparison between the retirement package provided to State employees through PERA to retirement packages offered by both private companies and other states.

Gabriel, Roeder, Smith & Company Plan Design Study

In July 2015, the second study was released by the Colorado Office of the State Auditor, which was an independent evaluation of PERA comparing the costs and effectiveness of PERA’s DB Plan to alternative plans in the public and private sector. Nationally recognized actuarial firm Gabriel, Roeder, Smith & Company (GRS) conducted a comprehensive evaluation for this study.

Pension Trustee Advisors Sensitivity Analysis

In October 2015, the third study was released, which was a sensitivity analysis of PERA’s actuarial assumptions. This study was overseen by the Colorado Office of the State Auditor and performed by Pension Trustee Advisors (PTA). The analysis looked at the various components used in determining PERA’s financial health. A second objective of the study was to develop an understandable format for communicating PERA’s progress toward becoming fully funded for a broad spectrum of stakeholders and policymakers. To fulfill this objective, PTA developed a signal light methodology for evaluating PERA.