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s_fin_2016a_2017-01-05t13:37:01z2 Hearing Summary

Date: 01/05/2017



Final

Public Employees' Retirement Association



COMMITTEE ON JOINT FINANCE


Votes: View--> Action Taken:
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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.



04:10 PM



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.





04:32 PM



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.





04:40 PM



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.



17JointFin0105AttachD.pdf17JointFin0105AttachD.pdf




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