E2F200129C1EA406872589EF0058A1AF Hearing Summary

PUBLIC
BILL SUMMARY For PRESENTATION FROM PERA

INTERIM COMMITTEE PENSION REVIEW SUBCOMMITTEE
Date Jul 17, 2023
Location HCR 0112

Presentation from PERA - Committee Discussion Only

Attachment Tag

File Name

Attachment A

Attachment A.pdf

10:08:10 AM

Interim Executive
Director and CIO Amy McGarrity and Mr. Michael Steppat, representing the
Public Employees' Retirement Association (PERA), gave an update to the
committee. They provided background information and an update on
PERA. Their presentation may be found in Attachment A.

10:17:06 AM

Director McGarrity continued by providing a summary of valuation, PERA's 2022 annual report, the automatic adjustment provision, and PERA's 2022 investment performance.

10:21:02 AM

Mr. Steppat continued by discussing legislation passed by the General Assembly during the 2023 legislative session that concerned PERA and future PERA meetings and hearings.

10:23:59 AM

Director McGarrity
continued by discussing a snapshot of PERA upcoming events through 2027.

10:24:40 AM

Director McGarrity responded to several committee questions regarding the automatic adjustment provision, the search for a new PERA executive director, PERA's funding status, and other topics.

10:44:31 AM

Director McGarrity and Mr. Steppat continued to answer committee questions regrading the missed payment during the COVID pandemic, passive investment studies, PERA fees, and recent legislation regarding PERA.

11:09:36 AM

Director McGarrity continued by answering questions regarding COLAs for current PERA retirees.

11:15:14 AM

Mr. Steppat and Director
McGarrity contined by answering questions related to inflation.

11:30:59 AM

Discussion continued with PERA.

Presentation from PERA - Committee Discussion Only

Colorado General Assembly