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

Colorado PERA received a clean audit at its annual hearing with the Legislative Audit Committee on August 10, 2026.



<h2 class="wp-block-heading has-medium-font-size">Results of annual audit</h2>



Every year, the State hires an independent auditor to examine PERA’s financial reports, compliance, and internal controls. This year, the State selected Plante &amp; Moran to conduct that work.



The audit did not find any issues with PERA’s recently released <a href="https://www.copera.org/annual-report">2025&nbsp;Annual Comprehensive Financial Report</a> (ACFR) and did not find any deficiencies or weaknesses in PERA’s internal controls.



In addition to the audit results, PERA executives were on hand to provide information and answer questions from Committee members. CEO/Executive Director Andrew Roth gave an overview of PERA benefits and membership, Deputy Executive Director Sarah Wager discussed highlights from the 2025 ACFR, Chief Investment Officer Amy C. McGarrity presented on PERA’s investment management and costs, and Director of Public and Government Affairs Michael Steppat provided an update on the 2026 legislative session and PERA-related bills. Representatives from the PERA Board of Trustees’ actuarial consultant, Segal, discussed PERA’s 2025 actuarial valuation and financial performance.



The <a href="https://content.leg.colorado.gov/content/colorado-public-employees-retirement-association-fiscal-year-ended-december-31-2025">audit report</a> and <a href="https://sg001-harmony.sliq.net/00327/Harmony/en/PowerBrowser/PowerBrowserV3/20260810/-1/18572">a recording of the hearing</a> are available on the Colorado General Assembly’s website.



Ensuring robust and accurate financial reporting and internal controls is a vital part of providing retirement security to Colorado’s public workforce. To that end, the&nbsp;ACFR&nbsp;is prepared to conform with generally accepted accounting principles, including requirements of the Governmental Accounting Standards Board and Actuarial Standards of Practice. PERA’s internal audit team routinely reviews internal controls and operations, and the Chief Audit Executive regularly reports to the Board of Trustees’ Audit Committee, which includes independent experts.



RELATED:&nbsp;<a href="https://www.copera.org/pera-on-the-issues/peras-2025-annual-report-by-the-numbers" target="_blank" rel="noreferrer noopener">PERA’s 2025 Annual Report by the Numbers</a>



<h2 class="wp-block-heading has-medium-font-size">Other legislative activity</h2>



While PERA staff and consultants typically meet with various other legislative panels throughout the summer, those hearings were paused for the second year in a row&nbsp;due to budget constraints. The suspension of interim activities applies to both the Pension Review Commission, which typically begins working on bills for the next legislative session, and the Pension Review Subcommittee.



PERA’s next hearing at the State Capitol will be with the Joint Budget Committee in the fall.

The inside of the Colorado State Capitol building looking up at the dome.

PERA Receives Clean Audit at 2026 Legislative Audit Committee Hearing