Colorado PERA Releases 2024 Annual Report, Investment Stewardship Report

DENVER—The Colorado PERA Board of Trustees today approved the release of PERA’s 2024 Annual Comprehensive Financial Report (ACFR). The ACFR contains detailed information on PERA’s finances, investment performance, membership, and funded status for the 2024 calendar year.

For the year ended December 31, 2024, the PERA defined benefit plan portfolio earned a return of 10.8% net-of-fees compared to the benchmark’s return of 11.1%. The defined benefit trust funds were valued at $66.7 billion with a combined funded ratio of 69.2%.

PERA is a long-term investor and continues to exceed its assumed rate of return on a time-weighted, annualized basis, earning 8.3% over the past decade and 8.4% over the past 30 years.

In assessing its financial health each year, PERA is required to determine whether changes are needed under the Automatic Adjustment Provision to keep the defined benefit plan on track to reach its goal of full funding. Based on 2024’s financial results, PERA remains on track and adjustments are not needed in 2026. There will be no changes to member contribution rates and all eligible benefit recipients will receive a 1.0% annual increase in July 2025 and most, if not all, will receive another 1.0% in July 2026.

PERA also released the 2024 Investment Stewardship Report, which details how PERA’s investment staff serve as stewards of plan assets. The report provides insight into PERA’s strategic asset allocation, investment philosophy, and commitment to long-term financial sustainability.

“The theme for this year’s ACFR, ‘Your legacy, our commitment,’ aims to capture the dedication of the staff who work every day to administer PERA benefits for more than 700,000 current and former public employees,” said CEO/Executive Director Andrew Roth. “I encourage all our stakeholders to explore the information in the ACFR and Stewardship Report to gain a better understanding of PERA’s finances and our efforts to provide a secure, reliable retirement to Colorado’s public workforce.”

The ACFR is available online at copera.org/annual-report and a summary version, the Popular Annual Financial Report (PAFR), is available at copera.org/2024-popular-annual-financial-report. An interactive snapshot of report highlights is available at copera.org/snapshot. 

The Investment Stewardship Report is available online at copera.org/investment-stewardship and an interactive snapshot of report highlights is available at copera.org/stewardship-snapshot. PERA executives will be holding Town Halls on Tuesday, July 1 to discuss the ACFR and Stewardship Report with members and retirees and answer questions. More information is available online at copera.org/townhall.

About Colorado PERA

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 $4.6 billion in benefits in 2024 to more than 115,000 retirees who live in Colorado.