Re: Jan. 23 editorial.
Colorado Treasurer Walker Stapleton, alias Henny Penny, has been an attention-groveling politician for years. For him, the sky is falling as long as he can get voters’ attention. His Chicken Little act has, unfortunately, been amplified by a Denver Post editorial that makes it look like PERA, the retirement program mostly for teachers, is in imminent danger.
The fact is that the fund has assets sufficient for decades. In the words of Greg Smith, PERA executive director, “We’re not on the brink of running out of money.” Itap also true that PERA is recognized by the financial community as one of the best-managed funds in the country. The fund’s assumed investment return of 7.25 percent is already lower than the 8-plus percent it experienced in non-recessionary times.
Smith’s cautionary comments have applicability in case of a major recession, not likely to happen in the near future. So for now, adios, Chicken Little.
Walt Heidenfelder, Denver
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