DENVER — Mike Coffman, Colorado state treasurer, might seek legislation blocking the merger of the $29 billion Colorado Public Employees' Retirement Association and the $2.3 billion Denver Public Schools Retirement System. Mr. Coffman, who is on the PERA board, wants the state pension plan to bring its $4 billion unfunded liability back to a 40-year amortization schedule. Without changes, PERA's unfunded liability is projected to reach $100 billion by 2044, said Brian Anderson, the treasurer's press secretary.
If the PERA board fails to act at its Feb 20 meeting, Mr. Coffman will seek the legislation, he said.
"The issue is not whether DPSS should be in PERA," Mr. Anderson said. "The treasurer was disappointed to see the increase in employer contributions to 13% from 10% without a corresponding change in benefits."
Mr. Coffman also backs another bill that would require the Colorado Legislature to do an annual benefits analysis of the fund, he said.