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PERA
April 25, 2018
PERA stands for the Colorado Public Employees’ Retirement Association, established by state law in 1931. Colorado PERA’s website explains that, “members of PERA include employees of the Colorado state government, public school teachers in the state, many university and college employees, judges… and the employees of many other public entities.” The association essentially stands in for Social Security for public employees, and they then receive retirement and other benefits from money they contribute while working. Under PERA, employees are required to contribute 8% of their salary and employers contribute additionally to the retirement trust funds. A Board of Trustees manages and invests the funds, which become available to public employees either when they turn 65 or when they meet other specific requirements.