Retirement insights from a Colorado PERA perspective

Legislation & Governance

PERA Receives Results of 2022 Financial Audit

A magnifying glass and calculator sit atop a pile of financial papers
Photo credit: Utah778/Getty Images

The State of Colorado released its annual audit of Colorado PERA’s financial reporting and internal controls, finding no issues that needed attention.

The State presented those findings at a meeting of the Legislative Audit Committee on Monday, Aug. 7. The hearing included presentations from the Office of the State Auditor, the state’s outside auditor, Colorado PERA, and PERA’s actuarial consultants.

Results of outside audit

The State of Colorado hires an outside auditor to conduct the audit of PERA each year. Since 2015, CliftonLarsonAllen has done that work, examining PERA’s financial statements — including the Annual Comprehensive Financial Report — for the year ended Dec. 31, 2022, as well as PERA’s compliance and internal controls.

The auditors gave PERA’s annual report a clean audit with no significant issues or recommendations. In addition, the auditors found no outstanding recommendations from the previous year’s audit.

The audit report is available online here.

RELATED: PERA Board Releases 2022 Annual Report

PERA’s actuarial consultant, The Segal Group, also presented highlights from the annual Signal Light report, which is an analysis intended to help assess the plan’s funding progress and provide a format for communicating this information using a color-coding system similar to a traffic signal. That report is available online here.

PERA will continue to meet with various legislative oversight committees throughout the summer and fall. Click here for more on what’s ahead at the Capitol.


  1. J. B. Smith says:

    Reminds Me of Arther Anderson work for Enron, Waste Management, and the State of Colorado (Seeking Succession Planning Advise as a Way to Circumvent Personnel Rules).

    How much does PERA pay their independent auditor and actuary? I understand the State Auditor, Treasurer, and lawmakers being unable to grasp what’s really going on with PERA, but ….?

    I guess the bottom line is everything’s great, don’t worry, and be happy!

    • John W Gillogley says:

      Not so much “great”, as several of our funds are no longer assessed as meeting their funding goals by 2048.

  2. Dale Falk says:

    What’s rhe latest on the possible repeal of the WEP?

  3. Dale Falk says:

    What’s the latest on the possible repeal of the WEP?

  4. Barry Thorpe says:

    Can’t get too excited about these blurbs. Is PERA ok…..
    yeah, and it was saved by taking away the exact benefits that they contracted to pay out.
    The irony of taking away contractual benefits in order preserve your ability to pay your contractual benefits is just beyond comprehension.

    • J. B. Smith says:

      I’m with you Mr. Thorpe, I don’t get too excited about these posts or even comments praising the laws that “saved” the program (which as you indicate sounds a lot like, “Destroying the village – to save the village”).

      On the other hand, I’m disgusted with legislators that dole out TABOR rebates, promotions and perks to their cronies and friends, and steal retirees’ COLA, instead of making appropriate employer contributions to PERA funds (in order to retain more in the General Fund for purposes other than keeping their promises to public servants).

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