Looking back on the year, it’s clear that PERA was top of mind—and with good reason. PERA and its future stability dominated the content of PERA on the Issues before, during, and after the 2018 legislative session, as Senate Bill 18-200 (SB 200) became the first PERA-recommended reform legislation to be introduced since 2010. But there were topics aside from legislation that proved to be of interest to readers, including Social Security, health care, taxes, and the recent mid-term elections. Without further ado, here is a closer look at some of the 2018 highlights.
Top Topic of 2018: Senate Bill 200
As was the case in 2017, Legislation was once again the most visited section on the site. PERA on the Issues continued to be the best place for readers to receive timely information on the 2018 legislative session, and SB 200 was the dominant topic of discussion. While the continuously updated 2018 Proposed Legislation Status article received the most traffic from our readers, SB 200-specific articles were not far behind. We followed the PERA-reform bill’s progression through the legislative process, including the bill’s initial introduction in the Senate in March; its approval in the Senate following two committee hearings, a spirited preliminary debate, and remarks from legislators prior to the final vote; its approval in the House after about 90 minutes of vigorous and amicable bipartisan debate; its eventual passing by both chambers late on the last day of the session, and its delivery in final form to Governor Hickenlooper to be signed into law. Following the signing of SB 200, readers were keen on understanding the legislation’s impact on their individual circumstances, as seen through notable traffic numbers to articles that detailed the final law as written, the FAQs heard on June’s telephone town hall meeting, and particular provisions in the new law such as the automatic adjustment.
Other Top Topics: Social Security, Health Care, and Taxes
A number of non-SB 200 matters also interested our readers. There were, of course, the usual articles related to Social Security, which are always popular with PERA on the Issues readers. One article addressed proposed federal legislation that would replace the Windfall Elimination Provision (WEP) with a more fair formula that would ensure Social Security benefits be based on actual work history. Another looking at the Social Security Fairness Act of 2017 experienced a resurgence in traffic and comments over the course of the year. Other top-of-mind topics for PERA on the Issues readers in 2018 were the rising cost of health insurance premiums, retirement age requirements (and how PERA compares to similar public employee retirement plans across the country), tax-related information, and Colorado’s recent mid-term elections.
Thank You for Being Part of the Conversation
Posting your comments and questions to PERA on the Issues articles is a great way to engage with PERA and others. This year’s post with the most comments didn’t have quite enough participation to pass the all-time most-discussed post—that honor is (still) held by a 2015 post on WEP—but the 2018 Proposed Legislation Status article did generate a whopping 112 comments, just a dozen shy of the WEP record holder. This is similar to last year, when the most commented post was 2017 Proposed Legislation Status.
Looking Ahead to 2019
The First Regular Session of the 72nd General Assembly will convene on January 4, 2019. Democrats have a “trifecta,” in which one party controls the governorship and both chambers of the Legislature. This will be a major shift from the divided state government Colorado has known the past two years where Republicans held a one-vote majority in the Senate.
Many issues introduced by Democrats but defeated in the Senate with the previous split-chamber will undoubtedly be brought up again in the new political environment of 2019. The agenda will also be heavily influenced by a total of 30 new Representatives and Senators, as well as a Governor who is expected to be more heavily involved in policymaking than his predecessor. While we expect next year’s legislative session to be less active for PERA-related issues than it was this year, we will, as always, keep you apprised of any noteworthy legislation. We hope that you will continue to turn to PERA on the Issues for credible, timely information on policy, retirement, health care, finance, and other topical areas – and share your thoughts, comments, and questions with the PERA on the Issues community.
On behalf of everyone here at PERA, we wish you a safe and healthy holiday season. See you in 2019!
Windfall elimination provisionA provision of federal law that may reduce Social Security benefit payments to retirees who receive a pension based on work during which they did not contribute to Social Security. The WEP does not apply to those with 30 or more years of substantial earnings in Social Security.
We would really like to see the WEP issue come to fruition. Simply put, it is unfair to those of us who, in our early years in state service,, worked multiple jobs, trying to support a family on little better than minimum wage. We should receive full SSN benefits. We earned it, we have a right to receive it.. Thank you for any assistance you can provide on the national level.
I sent an email to the legislators who proposed eliminating the Windfall on Soc Sec. Does anyone have an update on this? Get my first, very small, SS check this month.
Ms. Ward,
Thank you for sharing your perspective on the WEP with the U.S. House Ways and Means Committee. When we have an update on this federal bill, we will share it with our PERA on the Issues readers.
I would like to see a beginning-of-the-year article about two topics. One, due to the new legislation, with the automatic modifiers, what will change for calendar year 2019? For instance, will the current retirees have another year of frozen COLAs added to the existing two year freeze? … Two, overall, how big of a hit did PERA take with the downturn in the market? (I know PERA is diversified; but most of the world-wide markets seem to have finished down.)
Hello Steve,
We’ve written about the automatic adjustment feature contained in SB 18-200 here: https://www.peraontheissues.com/wp-content/uploads/2018/05/AutoAdjustment-WORK_REV_5.17.18.pdf
No adjustments to the Annual Increase/COLA or contribution rates may be made prior to July 1, 2020.
It is too soon to know the investment rate of return for 2018. After all investments are audited, this information will be released in the 2018 Comprehensive Annual Financial Report in late June 2019.