Earlier this year, the Colorado General Assembly passed Senate Bill 18-200 (SB 200), which makes numerous changes to the PERA plan design. These include higher employee and employer contribution rates, a lower annual increase for retirees, along with higher retirement ages and other benefit reductions for current and future members. Governor Hickenlooper signed SB 200 into law on June 4.
As a result of these changes and 2017 investment returns, the time-frame for reaching full funding for each division trust returned to 30 years or less based upon actuarial projections, and unfunded liabilities were reduced by $3.4 billion.
PERA reported an 18.1 percent investment return for the calendar year of 2017. The 2017 investment return was more than 200 basis points above the policy benchmark of 16.0 percent.
See the PERA 2017 Financial Snapshot.