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Stapleton Demands Inclusion in Task Force Set to Study Coloradans Retirement Savings, April 25, 2014

FOR IMMEDIATE RELEASE
April 25, 2014
 
Stapleton Demands Inclusion in Task Force Set to Study Coloradans Retirement Savings
 
DENVER – House Democrats are attempting to block Treasurer Walker Stapleton from having a seat at the table of a proposed task force that is set to study and report on the state of Coloradans retirement savings. 
 
After the Public Employees’ Retirement Association (PERA) board lowered the rate of return to 7.5 on November 15, 2013, Stapleton sent a letter to Democrat and Republican legislative leaders asking them to "come together and begin working towards enacting real and lasting reform.”  Despite having led on this issue and initiated this process, Stapleton is being blocked by Democrat leadership from participating in the task force set to study retirement security. 
 
“I’m skeptical of the Democrats’ intentions for this bill based on the makeup of the task force and their lack of interest in my participation,” Stapleton said.   “It is clear that the task force already has an agenda in mind and doesn’t want dissenting opinions at the table.”
 
The Treasurer is the only statewide elected official that has a vested interest in the outcome of the state’s retirement system given that he’s the only one required by law to sit on the PERA board.  Rep. Libby Szabo (R-Arvada) attempted to amend House Bill 1377 to include Stapleton on the task force but was told by the Speaker’s office that wouldn’t be allowed.  
 
The current makeup of the task force is as follows:
 
  • Executive Director of the Department of Labor and Employment
  • Executive Director of the Public Employees Retirement Association (PERA)
  • Someone with experience working in human services to be appointed by the Governor
  • Three members to be appointed by the Speaker of the House: a private sector employer with fewer than 50 employees, an employee of a private sector employer who is over 40, and a person who represents an organization that represents employers
  • Three members to be appointed by the President of the Senate: a private sector employer with more than 100 employees, an employee of a private sector employer who is under 40, and one person who is a representative of an organization that represents employees
 
Stapleton is demanding a seat on the task force in order to add bipartisan diversity and financial expertise.