Denver Public Schools Board of Education on Wednesday abandoned a plan that would have united the $2.5 billion Denver Public Schools Retirement System with the $33 billion Colorado Public Employees Retirement Association, Denver. Talks broke down over merger cost differences, said John MacPherson, communications director for the Denver school system. The two funds had hoped to sign an agreement by Oct. 15.
"The school district has expressed the desire to continue to explore the possibility of merger," Mr. MacPherson said, adding that new or revised legislation would be required before they could move forward. An earlier merger attempt failed in 2004.
Colorado PERA officials are "disappointed" by the termination of the proposed merger, according to a statement on the fund's website.