Letters to the Durango Herald can only be 350 words so keep it short and sweet. The best letters won’t just be a cut and paste of the talking points but will use your own personal story to help make the talking points come alive. Let them know why you care!
Colorado PERA Talking Points
- In 2010 public employees and retirees joined with their employers and Colorado PERA to help respond to the market crash of 2008. We increased employer and employee payments to PERA and retirees gave up their cost of living payments for several years and agreed to a reduced cost of living payment going forward.
- We did all of this to make sure PERA would be sustainable and available for the future.
- Public employees in Colorado for the most part do not receive social security. Our pension is our source of retirement so of course we are always watching and fighting to make sure it is secure.
- Treasurer Stapleton is disingenuous when he says our pension system is in crisis. What he really means to say is he doesn’t like the system and is trying to do everything he can to dismantle it.
- Treasurer Stapleton challenges the 8% rate of return. This rate is set by the board of PERA, which Stapleton is a member, annually based on reports from three actuaries and looking at trends across the nation in public and private pension plans.
- Currently, PERA is looking at a greater than 10% rate of return for 2012. Over the past 30 years PERA has seen a 10% rate of return. This is much higher than the projected 8% that the Treasurer likes to talk about.
- We are lucky here in Colorado to have PERA and its ability to get amazing returns year after year that exceed 8%. They can do it because they have investment opportunities that others do not. They also keep costs extremely low, making sure more of the money is kept in the investment fund making money for our public employees who earned it during their working years.
- The legislature in a bi-partisan manner “fixed” PERA in 2010. It is time to let that fix work.
- Colorado PERA and the Colorado State Legislature were ahead of the game when it came to making sure our pension fund would survive for generations to come.