With 2023 winding down and a new year approaching, we’re taking a look back at the topics and articles that resonated with PERA On The Issues readers over the past 12 months. Legislation — at both the state and federal levels — was by far the most popular topic this year.
Here are the articles that caught your interest in 2023.
An Update on 2023 WEP/GPO Legislation
Every Congress, lawmakers introduce bills to modify and/or repeal Social Security’s Windfall Elimination Provision and Government Pension Offset, which can reduce Social Security benefits for retirees receiving pension income. This year was no different, with efforts in the House and Senate receiving hundreds of cosponsors. So far, none of those bills have moved any further through Congress.
2023 Proposed Legislation Status
The Colorado General Assembly is always a popular topic on PERA On The Issues, and 2023 was no exception. Our article tracking the status of PERA-related legislation was one of the most-read articles of the year. Out of seven proposed bills, lawmakers ultimately passed three of them.
Colorado Legislators Pass Three PERA-Related Bills During 2023 Legislative Session
Gov. Jared Polis signed all three PERA-related bills into law. One bill requires a description of climate-related investment risks, impacts, and strategies to be included in PERA’s annual Investment Stewardship Report, one allocated additional money to make up the state’s 2020 direct distribution of $225 million to PERA, and the third modified the definition of “State Trooper” to include certain Colorado Parks and Wildlife officers for the purpose of PERA benefits.
News You Should Know: Larger TABOR Refund Checks Coming in 2024
In June, state officials announced that TABOR refund checks owed to Coloradans next year would be higher than initially expected. Since then, lawmakers passed a bill that sets the refund payments at $800 for single tax filers and $1,600 for joint filers.
Test Your Knowledge of PERA Benefits
In March, we published this quiz about PERA benefits, testing our readers’ knowledge on topics such as the PERA Board of Trustees, retirement benefit calculations, and purchasing service credit. So far, more than 3,400 people have taken the quiz and boosted their knowledge of PERA in the process.
Thank you to everyone who read PERA On The Issues and subscribed to our newsletter in 2023. We look forward to sharing more with you next year, beginning with the start of the 2024 legislative session in early January. We’ll see you then!
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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.StewardshipThe practice of overseeing or managing something entrusted to one’s care. PERA’s approach to investment stewardship is focused on ensuring the financial sustainability of the fund that pays benefits to retirees and beneficiaries.Government pension offsetA provision of federal law that reduces Social Security dependent benefit payments to spouses, widows, and widowers who receive a government pension like PERA.
Hopefully this “Year in review” article will lead members (retirees in particular) to move beyond just complaining and resolve to do something about the lack of a fair or realistic COLA, in 2024!
Specifically, members should contact their statehouse representatives, including the governor, to increase the COLA to at least 3.5%. Also contact state Attorney General Weiser to inquire if his office plans to do anything about the long running fraud against taxpayers and beneficiaries that the raid on PERA clearly is (it’s unlikely Weiser will do anything, but a failure to safeguard citizens might be the basis of a recall petition).
“Otherweiser,” it’ll be interesting to see how long politicians (besides the governor and AG who aren’t up for election in ’24) will keep embezzling public funds and inflicting elder abuse on retired public employees in an election year?
Happy New Year – handsoffmypera@hotmail.com
I agree. But the problem is they just don’t care.