Quantcast

Lawmakers introduce PERA reform bill - KOAA.com | Continuous News | Colorado Springs and Pueblo

Lawmakers introduce PERA reform bill

Posted: Updated:
COLORADO -

At the start of the legislative session, senators and republicans outlined finding a funding solution for the Public Employees' Retirement Association (PERA) program. 

On Wednesday, lawmakers introduced a bill making modifications to the state's pension program. 

It's sponsored by Senators Jack Tate and Kevin Priola, and Representatives KC Becker and Dan Pabon. 

With the proposed changes, it means some big changes could be coming for state employee's retirement. 

Some of the biggest changes include the creation of a 401(k) like contribution program. 

Additionally, employee and employer contributions will increase over the next few years. 

The bill doesn't come without some cuts- which includes slashing the 2% Cost of Living Adjustment (COLA) for the next 2 years. 

By 2020 COLA will return but with 1.25%. 

The bill is lengthy, for the full text click here: Modifications To PERA Public Employees' Retirement Association To Eliminate Unfunded Liability. 

WEATHER
Drive the Doppler
  • Most Popular StoriesMost Popular StoriesMore>>

  • Missing 60-year old man in Colorado Springs found safe

    Missing 60-year old man in Colorado Springs found safe

    Wednesday, June 20 2018 7:14 AM EDT2018-06-20 11:14:18 GMT

    A Colorado Springs man reported as missing on Tuesday is found safe early Wednesday morning. 6--year old Dean Wilfong was riding his bike in Palmer Park around 9:30 a.m. Tuesday morning when he called 911.

    First responders were unable to locate the man. Police say they received a phone call from Wilfong's wife just before 1:00 a.m. and she told them that her husband contacted her and she picked him up.

    It's unclear where Wilfong had been.

    A Colorado Springs man reported as missing on Tuesday is found safe early Wednesday morning. 6--year old Dean Wilfong was riding his bike in Palmer Park around 9:30 a.m. Tuesday morning when he called 911.

    First responders were unable to locate the man. Police say they received a phone call from Wilfong's wife just before 1:00 a.m. and she told them that her husband contacted her and she picked him up.

    It's unclear where Wilfong had been.

  • Colorado Springs police looking for missing 60-year old man

    Colorado Springs police looking for missing 60-year old man

    Tuesday, June 19 2018 10:50 PM EDT2018-06-20 02:50:05 GMT

    The Colorado Springs Police Department is trying to find a 60-year-old man after he went mountain biking in Palmer Park this morning. 

    The Colorado Springs Police Department is trying to find a 60-year-old man after he went mountain biking in Palmer Park this morning. 

  • Downtown bookstore vandalized by woman throwing a boulder

    Downtown bookstore vandalized by woman throwing a boulder

    Wednesday, June 20 2018 11:42 AM EDT2018-06-20 15:42:14 GMT

    Poor Richard's Bookstore downtown is asking for the public's help in identifying a woman who threw a boulder though a glass door early Sunday morning. 

    Poor Richard's Bookstore downtown is asking for the public's help in identifying a woman who threw a boulder though a glass door early Sunday morning. 

Powered by Frankly

© KOAA.com 2018, KOAA.com
A CORDILLERA COMMUNICATIONS Station
All rights reserved
Privacy Policy, | Terms of Service, and Ad Choices

Can't find something?