Colorado PERA to Revise Bonus Policy as Investment Staff Can Earn Up to 225% of Salary
Updated
Updated · The Colorado Sun · Jun 29
Colorado PERA to Revise Bonus Policy as Investment Staff Can Earn Up to 225% of Salary
2 articles · Updated · The Colorado Sun · Jun 29
Summary
This fall, Colorado PERA plans to recommend changes to incentive-pay rules after an internal review found its investment compensation may be running ahead of peers.
Nearly half of the 38 employees who managed PERA investments since 2020 doubled their salaries through bonuses, while average payouts rose to $294,000 in 2025 from $187,000 in 2020.
The scrutiny comes as PERA’s investment team missed benchmarks for a third straight year: the portfolio returned 14.1% in 2025 versus a 16.3% benchmark, and five-year returns trailed 7.6% to 7.7%.
PERA still said its broader finances remain on track for 700,000 members, with all five divisions projected to reach full funding by 2048 even as unfunded liabilities rose to $30.1 billion and funding slipped to 69.1%.
Lawmakers are weighing intervention after a Colorado Sun investigation, with state Sen. Chris Kolker planning a 2027 bill to bar bonuses when PERA’s investments lose money.