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 2025 Annual Comprehensive Financial Report (ACFR), which contains detailed information on PERA’s finances, investment performance, and funded status for the year ended December 31, 2025.



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



Explore an interactive version of this information and more at <a href="https://www.copera.org/snapshot" target="_blank" rel="noreferrer noopener">copera.org/snapshot</a>.



<h2 class="wp-block-heading">Plan Assets and Funding</h2>



<figure class="wp-block-image size-large"><a href="https://www.copera.org/snapshot" target="_blank" rel="noreferrer noopener"><img loading="lazy" decoding="async" width="1024" height="561" src="https://content.copera.org/wp-content/uploads/2026/07/2025-snapshot-overview-1024x561.png" alt="Colored squares showing highlights from PERA's annual report: $75.1B investment portfolio, 14.1% rate of return, 218,691 members, 145,554 retirees and benefit recipients, 69.1% funded ratio, $5.6B in annual retirement benefit payments, 8.1% return over 30 years, 56,109 PERACare participants, 414 PERA employers, $642.5M in Colorado-based investments." class="wp-image-66110" srcset="https://content.copera.org/wp-content/uploads/2026/07/2025-snapshot-overview-1024x561.png 1024w, https://content.copera.org/wp-content/uploads/2026/07/2025-snapshot-overview-300x164.png 300w, https://content.copera.org/wp-content/uploads/2026/07/2025-snapshot-overview-768x421.png 768w, https://content.copera.org/wp-content/uploads/2026/07/2025-snapshot-overview-1536x842.png 1536w, https://content.copera.org/wp-content/uploads/2026/07/2025-snapshot-overview-2048x1122.png 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



As of the end of 2025, PERA manages an investment portfolio of $75.1 billion for the defined benefit plans and $7.6 billion for the defined contribution plans. The defined benefit portfolio includes the five division trust funds from which PERA pays benefits—State, Local Government, School, Denver Public Schools, and Judicial—as well as the health care trust funds, life insurance reserve, and direct distribution reserve.



The defined benefit trust funds saw a total of $15.9 billion in additions and $6.6 billion in deductions during 2025.



Across all five divisions, 218,691 members and 414 employers were actively contributing to PERA accounts. Member and employer contributions to PERA totaled more than $4.6 billion. Other additions included the State’s annual $225 million direct distribution and more than $92 million in <a href="https://www.copera.org/welcome-pera-members/benefit-basics/purchasing-service-credit">service credit purchases</a>.



Sixty-two percent of PERA’s investment assets are managed in-house by PERA staff, at a cost of $23.6 million compared to the estimated cost of $124 million to outsource that management. Net investment income totaled more than $10.3 billion for the year.



PERA’s funded status at the end of the year—or the percentage of money PERA currently has on hand to pay all benefits earned to date—was 69.1%. While that represents a slight drop from the year before, PERA remains on track to meet its funding goals.



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



PERA paid a total of $5.6 billion in pension benefits to 145,554 retirees and benefit recipients, for an average monthly benefit of $3,274. The average age at retirement was 59.5 with 22.2 years of service credit. The remaining $1 billion in deductions included health care benefits and insurance premiums, member account refunds, and administrative expenses.



PERA provides benefits to nearly 1 out of every 10 Coloradans who are current and former teachers, State Troopers, snowplow drivers, correction officers, and other public employees who provide valuable services to all of Colorado. Of that $5.6 billion paid last <a>year,</a> approximately $4.8 billion went to more than 119,000 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://secure.copera.org/staticcontent/digitalsnapshot/acfr-2024/">copera.org/snapshot</a> for more details, including a county-by-county breakdown of benefits paid.



Additional resources



<ul class="wp-block-list">
<li><a href="https://copera.org/annual-report" target="_blank" rel="noreferrer noopener">2025 Annual Comprehensive F</a><a href="https://copera.org/annual-report">inancial Report</a></li>



<li><a href="https://copera.org/2025-popular-annual-financial-report" target="_blank" rel="noreferrer noopener">2025 Popular Annual Financial Report</a></li>



<li><a href="http://copera.org/investment-stewardship-report" target="_blank" rel="noreferrer noopener">2026 Investment Stewardship Report</a> | <a href="http://copera.org/stewardship-snapshot" target="_blank" rel="noreferrer noopener">Investment Stewardship Snapshot</a></li>
</ul>



<ul class="wp-block-list">
<li><a href="https://www.copera.org/economic-and-fiscal-impacts" target="_blank" rel="noreferrer noopener">2026 Economic and Fiscal Impacts Report</a></li>
</ul>

The cover of Colorado PERA's 2025 Annual Comprehensive Financial Report with the title "Working Together for Your Future."

PERA’s 2025 Annual Report by the Numbers