Changes to PERA contributions coming soon
Member and employer contributions will increase beginning July 1.
May 16, 2019
The first of three state-required increases for Colorado Public Employees’ Retirement Association members will go into effect July 1. The mandatory increases aim to bring PERA back to full funding within 30 years.
The current Colorado PERA member contribution of 8% will continue through June 30 and will increase to 8.75% beginning July 1. The change will be reflected in July paychecks.
The 8.75% rate will continue through June 30, 2020, after which employees will see two increases of 0.75% and 0.5%, eventually bringing the total contribution to 10% by July 1, 2021.
PERA is mandated to regularly announce progress toward its funding goal each June and will continue to communicate all upcoming automatic adjustments. Employees can visit the Colorado PERA website or contact Metropolitan State University of Denver Human Resources for more information.