Colorado PERA Responds to Senate Passing Social Security Fairness Act

DENVER—The United States Senate today voted to pass H.R. 82, the Social Security Fairness Act, which will significantly improve the financial security of public employees across the country, including thousands in Colorado.

H.R. 82 repeals Social Security’s Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), two decades-old provisions that can significantly reduce Social Security benefits for retirees who also receive retirement income from work that wasn’t covered by Social Security. In Colorado, most public employees do not contribute to Social Security and therefore face reductions to their Social Security benefits under WEP and GPO.

Since it was introduced in early 2023, the Social Security Fairness Act has earned strong bipartisan support in both the House and Senate. Its historic passage in the final hours of the current Congress demonstrates lawmakers aren’t deterred by the cost of ensuring hard-working public employees receive the benefits they’ve earned over the course of their careers.

“PERA’s mission is focused on the financial and retirement security of its members, and we’re glad to see Congress pass this important legislation,” said PERA CEO/Executive Director Andrew Roth.  “While the $200 billion price tag sounds steep, we know our members see that money as contributions they have made to Social Security and benefits they’ve earned and paid for just like every other American.”

The bill now heads to President Joe Biden for action before his term ends.

Colorado PERA provides retirement and other benefits to nearly 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.