DENVER—A pension fund covering 413,000 Colorado public employees and retirees has lost $10 billion in market value through mid-October.
The drop in the assets of the Public Employee’s Retirement Association raises the prospect of higher contribution rates or lower benefits if the market doesn’t improve quickly.
Colorado PERA had been hoping that investment gains would help resolve its long-term underfunding problem.
PERA officials say current benefits aren’t at risk and the pension has plenty of cash to weather market fluctuations.
There are no current plans to ask the PERA board or the Legislature for changes in contributions or benefits, but PERA officials say they’ll study whether anything needs to be done in the long term.
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