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Public Retirees of Colorado Group Officials Seek Debt Help from Legislature.
Knight Ridder/Tribune Business News, March, 2004
By Peter Roper, The Pueblo Chieftain, Colo. Knight Ridder/Tribune Business News
Mar. 11--A mixture of increasingly generous retirement benefits and the slump in the stock market has created a $4 billion headache for the Public Employees Retirement Association of Colorado -- and for taxpayers as well.
PERA officials are asking the Legislature for a package of remedies, including a request to increase the pension contribution from government employers from the current 10.1 percent up to 13 percent over a six-year period beginning in 2006.
During a meeting with The Chieftain's editorial board on Wednesday, PERA officials explained that the pension association has a $4 billion unfunded liability -- a debt that grew as PERA income...
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