The Colorado Legislature is hard at work this year. A top priority for Secure PERA is to ensure the state funds its $225 million direct contribution to PERA this year. This annual contribution was agreed to as part of SB18-200 to make up for the state’s past underfunding of PERA. Last year, while facing a $3.3 billion deficit, the Legislature cut the 2020 contribution.
In November, the Governor released his 2021-2022 budget request and included the $225 million direct contribution. Since then, the powerful Joint Budget Committee has been working to prepare the state budget and, thanks to the advocacy of our Secure PERA members, has pledged to include the contribution for the 2021-2022 budget.
Next up, the Joint Budget Committee will receive an updated revenue forecast for the state before finalizing the budget. After that, they will introduce the “Long Bill”, which is another name for the state budget. This year, the “Long Bill” will start in the Senate before proceeding to the House.
We will keep watch throughout the process to ensure the direct contribution is maintained. In the meantime, we encourage you to attend your legislators’ (virtual) town hall meetings and continue to ask about their support for PERA and the $225 million direct constibution. The best way to know about these events is to sign up for their newsletters. You can google your legislators to find their campaign websites and then sign up for their emails.