Both mandatory and supplement retirement plans are managed by the Colorado Public Employees' Retirement Association (PERA).  Visit PERA's website - www.copera.org - for more information. 
 

Mandatory Retirement Choices

• New State employees have two choices for their basic retirement plan - the PERA Defined Benefit Plan or the PERA Defined Contribution Plan. State employees do no pay into Social Security.  Employees have 60 calendar days from the date of hire to choose their basic plan. 
• Visit the PERA website - www.copera.org - and read the "PERAChoice Brochure" (under "Forms & Publications" in the PERA site).
• Judges and employees of four-year colleges are NOT eligible for this choice of basic retirement plans.
   

Voluntary Retirement Choices

• Employees can choose from two defined contribution plans as voluntary, supplemental retirement vehicles - the PERA 457 Plan and the PERA 401(k) Plan (collectively known as the PERAPlus programs).
• Visit the PERA website for more information www.copera.org.

Impact to Social Security Benefits

• Windfall Elimination Provision (WEP) - If you work for an employer who does not withhold Social Security taxes from your salary, such as the State of Colorado, the retirement benefit you receive may reduce your Social Security benefits.   
• Government Pension Offset (GPO) - If you receive a retirement benefit from a federal, state or local government where you did not pay Social Security taxes, your spouse's, widow's or widower's Social Security benefits may be reduced.  Review the information at the above GPO link. 
  

More Retirement & Investment Information
U.S. Depatment of Labor - go to the topic "Retirement Plans, Benefits & Savings"
U.S. Social Security Administration
College Invest - Offering a variety of 529 college savings plans for Coloradoans, along with expert advice and financial planning tools.  A not-for-profit division of the Colorado Department of Higher Education. 
Savingforcollege.com - Guide to saving for college and 529 plans
 

 

Your department's HR/Benefits personnel 

For more information about Benefits contact the DPA Benefits Unit.

 

Email comments to:  DPA Benefits

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