Letter to the Editor: Some points about PERA

Posted 4/18/18

In the March 29 edition, in letters to the editor, a couple letters suggested Colorado let PERA go bankrupt; as if they, and the state, 1) were separated from, and not a part of PERA, and 2) that …

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Letter to the Editor: Some points about PERA

Posted

In the March 29 edition, in letters to the editor, a couple letters suggested Colorado let PERA go bankrupt; as if they, and the state, 1) were separated from, and not a part of PERA, and 2) that they have not benefited from services provided by state employees. This is not the case.

First, PERA does not determine employee pensions. Citizens’ input starts with the State Treasurer, who is an ex official on PERA’s Board of Trustees. PERA recommends cost of living adjustments.Actual compensation is set by vote of the legislature and signature of the governor.

Everyone in Colorado benefits, either directly or indirectly, by the services provided by state employees. Retirement benefits are part of compensation package employees were promised. To accept these services and not compensate as intended is like having your car repaired and then, when repaired, telling the mechanic he will be paid only part of the agreed upon price.

Jake Jacobi,
Arvada

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