While Colorado’s 2022 legislative ended in May, PERA executives, staff, and consultants continue to meet with lawmakers and various legislative oversight committees in the interim.

The meetings are part of the regular review and oversight of PERA that takes place every year.

An important part of that oversight process is the Legislative Audit Committee, which met on August 9. At that meeting, PERA executives joined representatives from PERA’s actuarial consultant, Segal, and an outside auditor to discuss PERA’s financial status and answer questions from committee members.

An audio recording of the meeting is available online here.

Results of outside audit

Every year, the state hires an independent auditor to audit PERA’s financial data and internal controls. CliftonLarsonAllen, which has been auditing PERA’s financial reports since 2015, presented its audit of the 2021 Annual Comprehensive Financial Report. The auditors gave the report a clean audit with no significant issues.

A summary of the 2021 Annual Comprehensive Financial Report is available here.

Ongoing oversight at the Capitol

In recent weeks, PERA has also appeared before the Pension Review Subcommittee and Pension Review Commission, which are responsible for overseeing PERA operations and recommending legislation that affects PERA.

The Pension Review Subcommittee and Pension Review Commission will continue to meet throughout the summer and fall, and PERA On The Issues will keep track of any potential new legislation that arises from those meetings.

PERA also reports to the Joint Budget Committee and the Joint Finance Committee.

These regular meetings allow policymakers to learn more about PERA’s financial footing and ask questions of PERA management, ensuring robust oversight and transparency.