Colorado PERA Reviewed Staff Pay Proposals
The state pension board is considering pay hikes for investment staff after an evaluation of its compensation policies.
Updated on Oct. 1, 2026 in Retirement Planning
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In September 2026, the Colorado Public Employees' Retirement Association (PERA) board reviewed its compensation structure during a planning retreat. This review included recommendations for potential staff pay increases of up to 27%.
Why it matters
The board is weighing these changes because the fund competes for investment managers against much larger pension systems. Ensuring staff remain competitive is a key factor in the long-term management of the $75 billion fund.
PERA investment staff currently receive average annual bonuses of nearly $300,000, while the fund manages $75 billion in assets compared to the $170 billion median of its peer group.
The players
Colorado Public Employees' Retirement Association
The state agency that manages retirement benefits and investment assets for Colorado public employees.
Aon
A consulting firm that evaluates compensation and salary structures for large institutional pension funds.
Andrew Roth
The executive director of the Colorado PERA who oversees management of the fund's investment operations.
The details
The board relies on benchmarking its staff compensation against a group of larger public pensions and private firms to set pay targets. This current evaluation follows a 2018 review that resulted in a 128% increase to the staff incentive budget. Staff are currently eligible for performance bonuses ranging from 75% to 225% of their base salary.
Timeline
2018: PERA last reviewed compensation and approved a budget increase.
2025: The pension fund paid its investment staff 17% less than the peer median.
September 2026: The PERA board held a planning retreat to review compensation.
November 2026: The board is due to receive formal compensation recommendations.
Money Landscape
This compensation review follows the precedent established by the 2018 PERA compensation review. It reflects the board's ongoing effort to align staff pay with a peer group that includes much larger funds like CalPERS.
These compensation discussions relate to the administrative costs of managing the $75 billion fund that supports state retirees. Any approved salary adjustments are part of the broader budgeting process for the pension association.
The takeaway
Pension fund compensation is a complex balancing act between talent retention and overall fund efficiency. Residents can monitor future board meetings and public filings to stay informed about how these management costs evolve.
What happens next
The Colorado PERA board is scheduled to receive and consider formal compensation recommendations in November 2026.
Further reading
Learn more about how state funds manage their assets and staffing in our Retirement Planning section.
Source note: This article includes information reported by The Colorado Sun.
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