Colorado General AssemblyToggle Main Menu
Agency NameToggle Agency Menu

71ABD64441B6AAFD8725874C0069ADA0 Hearing Summary




PUBLIC
BILL SUMMARY For PRESENTATION FROM PERA ON THE GRS INDEPENDENT AUDIT

INTERIM COMMITTEE  PENSION REVIEW SUBCOMMITTEE
Date Sep 10, 2021      
Location HCR 0112



Presentation from PERA on the GRS Independent Audit - Committee Discussion Only
01:14:21 PM  
Marcus Pennell, Board
Chair, Colorado Public Employees Retirement Association (PERA), Ron Baker,
Executive Director, PERA, and Amy McGarrity, Chief Investment Officer,
PERA, presented to the committee regarding the GRS recommendations and
PERA updates.  The presentation may be accessed here: http://leg.colorado.gov/sites/default/files/images/pera_presentation_pension_review_subcommittee_9.10.21_0.pdf.
 The presenters described how PERA sets assumptions and responded
to a GRS recommendation to accelerate an experience study.  The presenters
responded to committee questions.  
01:38:31 PM  
The presenters continued and responded to a GRS recommendation to shorten amortization periods. They discussed GRS recommendations related to communication with stakeholders and changes to PERA public reports.
01:49:35 PM  
Brad Ramirez, Vice
President and Actuary, Segal, and Matt Strum, Senior Vice President and
Actuary, Segal, presented to the committee regarding actuarial evaluations
of PERA.  A copy of the presentation may be found here: http://leg.colorado.gov/sites/default/files/images/segal_colorado_pera_-_pension_review_subcommittee_presentation_0.pdf.
 The presenters provided an update on PERA membership, assets, and
valuation results.  The presenters discussed 40 year projections of
PERA assumptions and signal light reporting.  The presenters responded
to committee questions.  
02:28:36 PM  
The presenters described PERA's asset allocation and responded to committee questions.
02:38:16 PM  
The committee recessed.
02:50:24 PM  
The committee came back to order. The presenters responded to questions that were prepared by the Subcommittee regarding employee burden of unfunded liability, issuing pension bonds, and policy recommendations for PERA to achieve full funding. Committee discussion with the presenters ensued.






Colorado legislature email addresses ending in @state.co.us are no longer active. Please replace @state.co.us with @coleg.gov for Colorado legislature email addresses. Details

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details