PERA operates by authority of the Colorado General Assembly and is administered under Title 24, Article 51 of the Colorado Revised Statutes. The primary purpose is to provide benefits and programs as specified by state law, and the Board of Trustees oversees the administration of these benefits and programs, as established by the state legislature. Any changes must go through the legislative process and be signed into law by the Governor.
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 StudyGabriel, Roeder, Smith & Company Plan Design StudyPension Trustee Advisors Sensitivity Analysis
PERA regularly reports to the following legislative committees:
Senate Bill 18-200
The Colorado General Assembly passed Senate Bill 200 during the 2018 legislative session, which was a bi-partisan and comprehensive pension reform measure that made a number of changes to the contribution and benefit structure of Colorado PERA.Senate Bill 18-200 Impact of Changes