You have an account with Colorado PERA for time you spend as a public employee, but what does having an account mean? PERA provides its members with a lifetime monthly benefit, sometimes called a pension. Members work for affiliated employers throughout Colorado and during their employment contribute a fixed percentage of salary to PERA. Employers also contribute a percentage of payroll. When members reach retirement eligibility, they can apply to receive a monthly benefit.
To learn more, consider reading the updated version of the Your PERA Benefits booklet. It contains everything you need to know about Colorado PERA, including:
- How your retirement benefit will be calculated
- When you can begin to receive benefits
- What benefits could be payable following your death
- Options for different benefit payments
Consider reading the booklet online or requesting a printed copy be mailed to you if you want the most up-to-date information about your retirement plan.