Treasurer Walker Stapleton is running for Governor of Colorado on an agenda of dismantling PERA (Public Employees’ Retirement Association). He released a plan for changes he thinks should be made to PERA this legislative session.
- No COLA for 20+ years
- 5% contribution increase for active employees (this is approx. what would be required based off his plan below)
- No additional employers dollars into PERA
- Retirement age will be increased to match social security, 67 years old
- Increase the highest average salary from 3 years to 10 years.
- The 30 year expected rate of return should be lowered from 7.25% to 5%.
Tell him what you think about it and how his plan would drastically impact you.