Colorado GOP to use PERA as political issue

The Associated Press reports that the Republican Party in Colorado is pulling out all the stops in a bid to regain control of the state legislature. One of the arrows in its quill is the state retirement system.

Besides playing defense, Republicans are pushing their own priorities: cracking down on illegal immigration and tackling the state's troubled pension system, which has an unfunded liability of more than $11 billion.

[House Minority Leader Joe] Stengel doesn't have a specific remedy for the Public Employees Retirement Association, but thinks lawmakers need to consider all their options, such as requiring employees to pay more into the system; switching to defined contribution plans such as 401(k) accounts like the private sector is doing; and reducing benefits.

"Republicans are willing to say let's make the tough decisions now. Let's save the system, let's make sure that all the retirees get the benefits they've been promised and that they've paid into instead of waiting more time," he said.