A distant view shows a mountainous landscape with sloping peaks, green trees in the foreground, and a cloudy sky above.

In June, PERA released its <a href="https://peraontheissues.com/pera-board-releases-2022-annual-report/" target="_blank" rel="noreferrer noopener">2022 Annual Comprehensive Financial Report (ACFR)</a>, which contains detailed information on PERA’s finances, investment performance, and funded status for the year ended Dec. 31, 2022.



The ACFR is a lengthy report with a large amount of information. To make it easier to digest, we’re highlighting some key facts and figures from the report to help those who want to know more about PERA’s finances.



This information is also available in an interactive format at <a href="https://www.copera.org/pera-by-the-numbers-a-closer-look-at-the-2022-annual-report" target="_blank" rel="noreferrer noopener">copera.org/snapshot</a>.



<h2 class="wp-block-heading">Plan assets and funding</h2>



As of the end of 2022, PERA manages an investment portfolio of $55.9 billion for the defined benefit plans and $5.1 billion for the defined contribution plans. The defined benefit assets are split between the five division trust funds from which PERA pays benefits: State, Local Government, School, Denver Public Schools, and Judicial.



Last year, 206,646 members across 410 employers were actively contributing to their PERA accounts. Member and employer contributions to PERA totaled approximately $3.4 billion.



Fifty-nine percent of PERA’s investment assets are managed in-house by PERA staff, at an annual savings of $60 million compared to external management. Those assets are spread across six asset classes: Global Equity, Fixed Income, Real Estate, Private Equity, Alternatives, and Cash.



RELATED: <a href="https://peraontheissues.com/asset-classes-explained" target="_blank" rel="noreferrer noopener">Asset Classes Explained</a>



PERA’s funded status at the end of the year was 69.9%, up from 67.8% at the end of 2021. According to state law, PERA must reach 100% funded by 2048.



<h2 class="wp-block-heading">Benefits paid</h2>



PERA paid a total of $5.2 billion in pension benefits to 135,485 retirees and beneficiaries in 2022, for an average monthly benefit of $3,238. The average age at retirement was 59.1 with 22.6 years of service credit.



PERA provides benefits to nearly 1 out of every 10 Coloradans who are current and former teachers, state troopers, snowplow drivers, corrections officers, and other public employees who provide valuable services to all of Colorado. Of the $5.2 billion paid last year, $4.5 billion went to 112,509 PERA retirees living in Colorado. That steady stream of income flows to every county in the state, providing stability to state, regional, and local economies.



Visit <a href="https://www.copera.org/pera-by-the-numbers-a-closer-look-at-the-2022-annual-report" target="_blank" rel="noreferrer noopener">copera.org/snapshot</a> for more details, including a county-by-county breakdown of benefits paid.



RELATED: <a href="https://peraontheissues.com/pera-benefits-contribute-billions-of-dollars-to-state-economy-support-thousands-of-jobs/" target="_blank" rel="noreferrer noopener">PERA Benefits Contribute Billions of Dollars to State Economy, Support Thousands of Jobs</a>



More information:



<ul class="wp-block-list">
<li><a href="https://www.copera.org/pera-by-the-numbers-a-closer-look-at-the-2022-annual-report" target="_blank" rel="noreferrer noopener">Digital Snapshot</a></li>



<li><a href="https://www.copera.org/pera-on-the-issues/pera-by-the-numbers-a-closer-look-at-the-2022-annual-report" target="_blank" rel="noreferrer noopener">2022&nbsp;Annual Comprehensive Financial Report&nbsp;(PDF)</a></li>



<li><a href="https://copera.org/2022-popular-annual-financial-report" target="_blank" rel="noreferrer noopener" class="broken_link">2022&nbsp;Popular Annual Financial Report&nbsp;(PDF)</a></li>



<li><a href="https://content.copera.org/pera-board-releases-2022-annual-report/" target="_blank" rel="noreferrer noopener">2022 Actuarial Valuation (PDF)</a></li>
</ul>

Illustration depicting six business-related icons with labels: Investments, Funding, Membership, Financials, Economic Impact, and Additional Resources.

PERA By The Numbers: A Closer Look at the 2022 Annual Report