After an extensive nationwide search, the Colorado PERA Board of Trustees announced it has selected PERA’s next Executive Director.
The Board named Andrew Roth, Deputy Director of the Teacher Retirement System of Texas, as PERA’s eighth Chief Executive Officer/Executive Director. The Board announced Roth’s appointment at its March 15 meeting.
“The Board conducted an extremely thorough process with highly qualified candidates from across the country,” said Board Chair Marcus Pennell. “Mr. Roth stood out among these leaders because of his experience managing complex pension organizations, a commitment to PERA’s fiduciary obligations and as someone who has demonstrated a dedication to public service.”
Prior to his role at the Teacher Retirement System of Texas, Roth served in high-level positions at the California State Teachers’ Retirement System and in various departments within the State of California.
“PERA is one of the nation’s premier pension funds and it is an honor to serve the members and retirees who have dedicated their careers to public service in the great state of Colorado,” Roth said. “PERA has contributed to a secure retirement for Colorado’s public workforce for nearly 100 years, and I appreciate the Board’s confidence in me to carry this vital mission into the future. I look forward to working closely with the Board, our employees, and every member to ensure PERA remains steadfastly focused on meeting the retirement needs of hundreds of thousands of Coloradans.”
Roth will begin his new role as Chief Executive Officer/Executive Director on May 13.
FiduciaryA person who manages money on someone else’s behalf and who has a sworn responsibility to manage those funds in the best interest of the client.
Welcome?
Sounds like Mr. Roth should be comfortable with Colorado PERA, since we like so many Texas school districts, also suffer under Social Security’s WEP and GPO reductions by virtue of a government pension.
Likewise, the politics of schools and teacher unions should be familiar, given the havoc they wreak on state and local budgets (at the expense of all PERA members).
However, I think Mr. Roth has been misinformed (or practices legislative accounting) to reckon, “PERA has contributed to a secure retirement for Colorado’s public workforce for nearly 100 years…” Maybe three-quarter of a century, until Senate Bill 001, in 2010, eliminated beneficiaries’ COLA!
Finally, how much was spent on this Executive Director search?
– Guy Santo (handsoffmypera@hotmail.com)
To follow up on Mr Santo’s prudent comments, perhaps significantly change asset allocation – more allocation to fixed income (>50%) and LESS allocation to Global equity (really?). Redo the Asset/Liability Study with a ban on ESG investments!
Please publish historical asset class returns. Mr Roth, Pera investing needs oversight and must be held accountable. Pera cannot stand another 30 billion loss in assets with the State bailout …. and no one gets fired?
Completely agree with ban on ESG investments!
The legislative proposals to change WEP should primarily include reducing the number of qualifying years from 30 to 25 years.
Please publish the asset class returns. Pera cannot stand another $30 billion loss… with State bailout.
Hi Bill, we publish our investment returns for each asset class every year in our Annual Comprehensive Financial Report. You’ll find those returns and other pertinent information at copera.org/snapshot in the “Investments” section.
What you might consider asking is what are the funds’ current Navida positions, who’s engaged with PERA’s private equity, and PERA’s specific dollar amounts for administrative and investment costs, i.e. employee salaries (even if just by position titles and not their names) and consultant fees. However, they’ll refuse to tell you because it’s all secret, unknown, or a personnel issue (yea, PERA staff get real raises, and financial consultants make huge fees, while retirees get negative increases)?
Guy (handsoffmypera@hotmail.com)
P.S. – As for the upcoming comprehensive annual financial report, unless there’s something criminal going on, then PERA’s going to have a spectacular year as of Dec. 31, 2023!
Yes. Ban all ESG investments.
To help keep the PERA financial condition stoplight flashing green, I hope the new director’s yearly salary increase not exceed 1% per year until year 2048. That is, if he’s around that long.
Agree! Same should be true of ALL PERA employees, especially those at the highest echelons: VPs, CEO, Directors, ALL of them!
Shocking that CO PERA would consider experience in the CA teacher retirement system of benefit to CO. Were actual results a part of the hiring decision?
I lost net money this year due to increased insurance I guess. I would like to see us get more that 1% per year. Inflation is leaving some people in a vice grip. Who will resolve to get much better investors in such a riseing market? The dow will soon cross 40,000
How can Pera protect against another $30 billion loss? Where was the oversight after the initial $10 billion loss, and the red flag on next $10 billion loss, and the OMG on the final $10 billion loss! Perhaps more oversight is required?
There is a robust system of PERA oversight that includes various legislative panels, such as the Pension Review Commission and Pension Review Subcommittee, and yearly independent audits of PERA’s financial data and internal controls. As fiduciaries, the PERA Board and staff take seriously their responsibility for managing the trust funds that provide benefits to Colorado’s public employees. If you have more questions about PERA’s finances, we encourage you to browse our publicly available reports (https://www.copera.org/financial-reports-and-studies) or reach out directly via email at potimail@copera.org.
GOOD LORD ! ! He’s from TEXAS ! What were you thinking ? ! !