The board of the Colorado Public Employees’ Retirement Association will meet today to vote on a new budget, consider different performance benchmarks for its alternative investments and craft a legislative strategy.
The pension agency’s executives will ask the board to approve a $37.5 million budget for the coming year, a 4.4 percent increase over the current budget.
The new budget includes $500,000 to create a “data hub,” a centralized source for investment information, PERA spokeswoman Katie Kaufmanis said.
PERA is also seeking an increase in its legal budget to pursue securities lawsuits against companies that may have defrauded it and other investors, she said.
The board will also discuss legislative strategies in a closed session, partly in response to recommendations from a special state- appointed panel, the Treasurer’s Commission to Strengthen and Secure PERA.
PERA oversees $33.6 billion on behalf of more than 360,000 government employees, former employees and retirees.
The plan has an estimated $12.8 billion shortfall in assets needed to meet future obligations. Overcoming that gap could require higher contributions from employees and taxpayers, a cut in benefits or some combination of the two.
The board meeting, open to the public, will start at 9 a.m. at PERA’s offices at 1300 Logan St.
Staff writer Aldo Svaldi can be reached at 303-820-1410 or asvaldi@denverpost.com.
