* State budget-balancing measure leads to shift in PERA contributions
* Branding initiative endorsed, adopted by Board of Regents
* UPDATE: Flex bill clears first hurdle at Capitol
* Guiding principles, presidential search go back to governance groups
* Federal stimulus has brought $151 million to CU for research
* Five questions for Kerry Paterson
* Did you know...
* People
* Letters to the Editor
  Stimulus grant brings $15 million to biotechnology building
  Breast cancer risk factors differ among races
  Successful blog creator shares experience with students
  Some pediatric brain tumors might be worsened by immune gene expression
   Newsletter Archive
Download Newsleter in PDF
Share your thoughts
Share your opinions

Send your thoughts and suggestions for the Newsletter


Latest developments don't boost confidence in PERA

E. Jill Pollock's e-memo of April 23 was both welcome and unwelcome news. I have been trying unsuccessfully for weeks to get something official about SB 10-146 from the university. My inquiry to Payroll & Benefit Services went unanswered, and finally hearing something from Vice President Pollock, while welcome, was too long in coming.

The example given in the memo does not apply to me. I will feel the full 2.5 percent impact in my take-home pay, so the attempt to soften the blow falls short. Additionally, the memo's statement that "The benefit does not change as a result of a good or bad economy" is not true for me because I plan to retire with reduced benefits to the tune of a 12.5 percent hit — the direct result of a bad economy. Or more precisely, the result of a bad choice of investments made by PERA.

The official communication we have received does not fully address the real world nor does it explain how this bill sneaked its way under our noses. Doesn't the university have a legislative liaison? Who was paying attention and when were we to be informed? I first heard about it by word of mouth in my department more than three weeks before the release of the memo.

My personal investments are back up where they were before the market meltdown. Meanwhile, PERA is deep underwater and grabbing me down along with it. I have very little confidence in my future PERA retirement and both PERA and the state have proven that they can reach into our pockets and change the rules anytime things don't go their way.

Barry Northrop
Accounting and Business Support
University of Colorado at Boulder

Editor's note: CU's Office of Government Relations maintains a directory of reports on current legislation affecting the university system. It's accessible at https://www.cu.edu/content/currentstatelegislation.

Forum Archive

Letter Submission Guidelines
The Faculty and Staff Newsletter welcomes letter submissions from current or retired University of Colorado faculty and staff about issues of interest to the university community. Submissions may be edited for length, style and clarity. Anonymous submissions will be neither considered nor published. Please send submissions to newsletter@cu.edu.

Please indicate whether or not you would like to see your comment published in the newsletter as a letter to the editor. Thank you.

Bookmark - Print - Share