Location: RM 271
Public Employees' Retirement Association
COMMITTEE ON JOINT FINANCE
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03:48 PM -- Public Employees' Retirement Association
Director Gregory Smith, representing the Colorado Public Employees' Retirement Association (PERA), presented about the performance of PERA during the last fiscal year. He distributed a presentation to the committee (Attachment B). He also distributed PERA's Comprehensive Annual Financial Report to the committee (Attachment C). Director Smith walked the committee through Attachment B.
Attachment B can be viewed at Legislative Council. Attachment C can be viewed at Legislative Council.
Mr. Smith addressed questions from the committee about the percentage rate of employer matching contributions and how the future rate of return on investment is determined.
Mr. Smith continued to address committee questions about his presentation, including questions about the current unfunded liability of PERA and the anticipated amortization period for the different PERA divisions.
Committee discussion continued with Mr. Smith.
04:45 PM -- Mr. Joshua Sharf, representing the Independence Institute, came to the table to discuss PERA. He distributed a chart illustrating the variations in the possible rates of return over a 40-year-period (Attachment D). He also responded to committee comments.