State Treasurer Says There’s A Need For Solvency and Transparency in the CPERA System

Oct 2nd @ 4:35 pm in News by Scott Staley

State Treasurer Walker Stapleton was visiting Grand Junction yesterday and in a speech at the Double Tree Hotel during a regional meeting of the Colorado Assoc. of School Boards said there is a need for solvency and transparency in the Colorado Public Employees Retirement Assoc. system.  According to the Daily Sentinel Stapleton feels that the state is operating under the false premise that the 2010 Senate Bill 1 will generate enough money to cover all public benefit payouts in the future.  The bill had been introduced by former Grand Junction Sen. Josh Penry.  In the bill he had suggested decreasing new benefits and mandated increases in employer contributions to bolster the PERA funding.