Reminder: PERA contributions have changed
Member and employer contribution increases will be reflected in July paychecks.
July 3, 2019
The first of three state-required increases for Colorado Public Employees’ Retirement Association members took effect Monday. The mandatory increase aims to bring PERA back to full funding within 30 years.
Prior to Monday, the Colorado PERA member contribution was 8%. As of Monday, the rate has increased to 8.75%. The change will be reflected in July paychecks and will continue through next June 30. After that, 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.
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