Retirement insights from a Colorado PERA perspective

Issues & Perspectives

Public Service Recognition Week

Public Service Recognition Week

May 5 – 11, 2019

Celebrated the first full week in May since 1985, Public Service Recognition Week
(PSRW) is a time set aside to honor the men and women who serve our nation as
federal, state, county, and local government employees.

PERA exists to provide secure retirements for Colorado’s
public employees and we join in celebrating their service. More than 600,000
current and former public employees in Colorado are PERA members and, on their
behalf, PERA invests $48 billion in defined benefit plan assets for the sole
purpose of funding retirement benefits for a diverse membership.

In 1931, before Social Security existed, a group of state employees sought legislation that resulted in what was then known as the State Employees’ Retirement Association (SERA). SERA initially covered only state employees, but over time, retirement coverage expanded to include all Colorado school districts, the State’s judicial system, and a number of local government entities (cities, towns, special districts, and one county).

PERA members serve across Colorado:

  • There are five divisions of PERA: State, School, Local Government, Denver Public Schools and Judicial.
  • Members in PERA’s State Division work for or retired from state agencies and instrumentalities of state government, as well as institutions of higher education.
  • Members in the School Division and the DPS Division are current and former teachers, school administrators, and other critical support personnel serving 900,000 students across 178 school districts.
  • Members in the Local Government Division are working for or retired from 140 cities, towns, a county, and a variety of special districts in Colorado.
  • Members in the Judicial Division, PERA’s smallest division, are the working and retired judges in district and county courts, as well as the Colorado Court of Appeals and the Colorado Supreme Court.
PERA Membership
Colorado PERA Membership
as of February 2019

These 600,000 PERA members and retirees, or one in 10
Coloradans, actively contribute to the quality of life we all enjoy. Here are
just a few examples of public employees doing important work that positively
affects all of us every day.

Annual
“mini-college” for senior citizens in Pueblo draws 350 students
Canon
City Daily Record

Pueblo Community College (PCC) Fremont Campus has been conducting Senior Mini
College for 34 years. It takes dedication and commitment from each PCC Staff
member to help organize and plan this event. Many currently enrolled PCC
students have volunteered to help the Senior Mini College week participants.

How
the Department of Human Services investigates welfare fraud
Sterling
Journal-Advocate

A fraud investigation can be triggered a number of ways: through an
anonymous letter or phone call, someone comes across something that the person
accidently put on their application that they lied to DHS about, or someone
sees something on social media.

The
risky business of trapping mountain lions
The
Durango Herald

Wildlife officials have trapped and killed five
mountain lions near a Colorado town after residents reported aggressive
behavior by the predators.

Broomfield High School hosts an empowerment conference for young womenBroomfield Enterprise
The women’s leadership class at Broomfield High School, made up of about 27 female students, is supervised by Lena Carroll and Andrea Binion and has been in place about four years.

How multiple Estes Park agencies are upgrading the area’s infrastructureEstes Park Trail-Gazette
Through an Intergovernmental Agreement, the Upper Thompson Sanitation District (UTSD) and the Town of Estes Park (TEP) are partnering to complete a utility infrastructure project that will impact the Fish Creek Lift Station and Mall Road. The Fish Creek Lift Station and approximately 1,000 linear feet of 14-inch diameter cast iron force main was constructed in the mid-1970s.

Governor Polis’ Public Service Week Proclamation

Defined benefitAlso known as a pension, this is a type of pooled retirement plan in which the plan promises to pay a lifetime benefit to the employee at retirement. The plan manages investments on behalf of members, and the retirement benefit is based on factors such as age at retirement, years of employment and salary history.

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