CO treasurer complains about PERA board
Colorado State Treasurer Mike Coffman, in a Pueblo Chieftan editorial, argues that the composition of the PERA Board of Trustees is weighted too heavily with retirees.
As we have seen with the recent failure of private sector boards - Enron and WorldCom come to mind - the size of the board, the qualifications of board members and the perspectives that those members bring to the table are critical to successful stewardship. Pension plans such as PERA can work, and they have worked successfully in Colorado, but leadership is a vital part of the equation.
While this year’s PERA legislation makes some changes at the margins of governance, ultimately it has kept the status quo: PERA beneficiaries in, taxpayers out.