Colorado PERA Board Approves Increase in Operating Budget to Fund Technology Upgrades

DENVER—The Colorado PERA Board of Trustees approved a 2025 operating budget of $132 million. The 19.6% increase over 2024’s budget reflects a financial commitment to modernize the core technology systems necessary to administer the pension system. The modernization effort is expected to be a multi-year project. The budget also addresses other critical needs necessary for efficient operation of a $65 billion financial institution.

PERA’s executive leadership team acknowledges the financial realities that its members, employers, and stakeholders have experienced in recent years.

“I know the past several years have been a difficult time for our members and employers, and especially for our retirees. We must act now to reduce the risk of larger, more expensive problems down the road,” said Chief Executive Officer/Executive Director Andrew Roth. “The systems we use to administer benefits are some of the oldest in use by public pension plans in the United States, and the risk of relying on increasingly outdated technology to provide the retirement income, health care, and other benefits upon which our members and beneficiaries rely is significant enough to require action.”

Colorado PERA provides retirement and other benefits to over 700,000 current and former teachers, State Troopers, corrections officers, snowplow drivers, and other public employees who provide valuable service to all of Colorado. PERA is a vital and stable contributor to Colorado’s economy, distributing $4.56 billion in 2023 to more than 114,000 retirees who live in Colorado.