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Stapleton speaks up against establishing a state run retirement plan for Colorado private sector employees

 FOR IMMEDIATE RELEASE
April 28, 2014
 
Stapleton speaks up against establishing a state run retirement plan for Colorado private sector employees
 
DENVER – Treasurer Walker Stapleton has been blocked from serving on a task force that is set to study Coloradans retirement savings.  House Bill 1377, which was introduced just last week, requires the task force to make recommendations for the establishment of a state run retirement plan for private sector employees – a move that Stapleton strongly opposes.
 
“Just because Democrat leadership has made it very clear that they do not want a dissenting voice on their 'task force,' it will not stop me from warning Colorado about this ludicrous idea of a state run retirement plan for private sector workers,” Stapleton said.  “Under no circumstances would I support a Colorado run retirement plan for private sector employees.  Frankly, it frightens me that Democrats are even asking for such recommendations.  Our current public employee plan, PERA, is $26 billion in the hole.  We should start by turning the titanic away from the iceberg before we start placing more passengers on the ship.”
                                                                               
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 she was told by the Speaker’s office that wouldn’t be allowed. 
 
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