Actuarial study finds PERA—9s hybrid defined-benefit plan favors career employees; closes on policy trade-offs
A statutorily required actuarial study for the Public Employees' Retirement Association compared the hybrid defined-benefit (DB) plan to alternative designs and found the current hybrid DB plan provides higher income-replacement for long-career members while alternatives trade portability and risk among members and employers.
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The Legislative Audit Committee released a statutorily required study on the cost and effectiveness of the Public Employees—9 Retirement Association—9s retirement plans on July 1, concluding that Colorado—9s PARA hybrid defined-benefit (DB) plan is a cost-effective design that favors long-career public employees by providing stable lifetime income, while alternative designs shift risks and benefits in different ways.
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