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Boost Your Retirement Savings With PERAPlus

The biggest fear about retirement, cited time and again by financial advisors, is simply running out of money. As a Colorado PERA member contributing to PERA’s Defined Benefit (DB) Plan, you’re already positioned well for retirement.

But, if you’re anxious about having enough to support your needs in retirement, considering enrolling in the PERAPlus 401(k) and 457 Plans. (Note: All employers offer the PERAPlus 401(k) Plan, but not all employers offer the 457 Plan.)

The PERAPlus Plans are voluntary savings plans on top of your PERA DB Plan that allow you to put aside more pre-tax money from every paycheck to help you plan for the future that you want. And the PERAPlus Plans also have lifetime income options to help make savings go even farther in retirement.

Saving money in the PERAPlus 401(k) or 457 Plan can be a lifeline when unexpected expenses occur in retirement. And the earlier you save in these accounts, the more opportunity your money has to grow.

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Not Too Late to Start Saving

If you’re able to save more near the end of your working career, you can take advantage of “catch-up” contributions. When you turn 50, the IRS allows you to contribute extra in both 401(k) and 457 accounts that’s on top of the annual limit for this year. See the current contribution limits.

To find out more about enrolling in the PERAPlus Plans, go to