This year, the Colorado Legislature has the opportunity to uphold its commitment to public employees and retirees by making up for its missed PERA contribution from 2020.
HB22-1029 is a bill from Representatives Shannon Bird and Shane Sandridge and Senators Chris Kolker and Kevin Priola that pays back the missed contribution plus adds additional funds to offset the investment gains that were lost because the payment was not made on time. Without it, contributions by employees and employers could increase and COLAs for retirees could continue to decrease.
Write a letter to the editor of your local newspaper about this bill and why your legislator needs to support it.
Need some help? Use the talking points and the form below to help you write and submit a letter to your local newspaper. Remember: most newspapers have a word limit of 250 words or less.
Talking Points (don’t cut and paste – put things in your own words!)
- With HB22-1029, the Colorado Legislature has the opportunity to uphold its commitment to public employees and retirees and make up for its missed PERA contribution from 2020.
- HB22-1029 pays back the missed contribution plus additional funds to offset the investment gains that were lost because the payment was not made on time.
- The legislature must pass HB22-1029, the bi-partisan bill from Representatives Shannon Bird and Shane Sandridge to make up for the state’s missed 2020 direct contribution to PERA. This bill will soon be in the House Finance Committee.
- In 2018, the legislature passed SB18-200, which put PERA on a path to full funding and required increased contributions from public employees and their employers plus reduced annual COLAs for retirees. It also required the state to make an annual direct contribution of $225 million to make up for years of underfunding the system.
- When the 2020 budget crisis hit, the state cut the funding for its 2020 contribution. However, as revenue returned and the state restored cuts in other areas of the budget, it did not restore the funding for this obligation.
- PERA members continue to do our part. Employee and Employer contributions have increased, and retirees’ COLAs have decreased.