PERA Payback Bill: Write a Letter to the Editor

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.

Write a letter to your local newspaper!

Across the state, pension payments are helping Colorado through these tough economic times. We already know that PERA is a economic driver for our state. A study by Pacey Economics found that PERA generates $6.5 Billion in economic output in 2018. And now, a national report released in March 2020 by the National Institute on Retirement Security, found that retirees who are in a pension plan are critical to their local economies in small towns and rural communities.  Check out this great graphic from PERA.

PERA is facing some pretty big hits – from the downturn in the market to the potential cuts in payments from the state as required by SB18-200. Now is the time to be vocal about the importance of your pension, especially if you are a retiree in a small or rural community.

Write a letter to the editor of your local newspaper about the positive impact your pension has in your community. Need some help? Use this helpful form to submit a letter to your local newspaper.

Get to Know Your Legislators

The start of a new session is a good time to connect with your legislator. Find out who they are by clicking on this link.

We encourage you to attend any town hall meetings your legislators have and ask about their support for PERA. The best way to know about these is to sign up for their newsletters. You can look up your legislators above, then google to find their campaign websites and sign up for their emails.