Promoting & Protecting the Economic Well-Being & Quality of Life for All Retired School & Public Employees

 

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NEWS UPDATE:  Recently the Denver Post published two articles about PERA.  On July 3rd the story looked at PERA’s financial assumptions.

On July 4th the story examined PERA’S expenses.  On July 5th PERA posted responses to the articles on PERA’S website.  To read PERA’s responses to these articles you can go to www.copera.org.


News:
Your CSPERA Executive Board voted on September 14, 2011 to support Proposition 103. Listed below is a summary of the proposition and the context of what the bill covers.

SUMMARY: Proposition 103

Proposition 103 would restore state income, corporate and sales taxes to their 1999 levels for the benefit of education:

  • Corporate income tax and personal income tax rates would increase from 4.63% to 5%.
  • The state sales tax rate would increase from 2.9% to 3%.
  • The initiative would raise an anticipated $532 million per year.
  • The new funds would go toward preventing further cuts to education — preschool through higher education – and, depending on the economy and recovery, could begin restoring funding for some of the devastating cuts of the past three years.

Context:

  • Without ballot action, it is anticipated that P-12 will face a fourth year of deep cuts in the 2012-13 school year and higher education will continue to experience significantly diminished state funding, resulting in higher tuition, reduced financial aid, and possibly even closures of colleges and departments.
  • While this initiative will not reverse the cuts schools and colleges have endured over the past four years, it will help to prevent or minimize future cuts.
  • This initiative provides the ONLY opportunity available to stop deep cuts in the 2012-13 school year.
  • The proposal simply restores tax rates to 1999 levels.
  • The proposal’s five-year limit is intended to ensure that the initiative cannot be viewed as a permanent solution to public education funding. This initiative is like a tourniquet that will prevent more irreparable cuts while providing a few years to build consensus on long-term fiscal reform.
     
  • Your vote for Proposition 103 is crucial as we work to create stronger communities by investing in our schools and kids. Election Day is November 1, 2011. This election will be all mail-in ballots this year. Ballots will be mailed to voters beginning October 11, 2011.

Dates to remember:

· October 3rd: Last day to register to vote

· October 11th: Mail ballots are sent out

· November 1st: Election Day


About CSPERA
CSPERA is the statewide organization that represents over 6,000 retired school and state employees in the state of Colorado.  Eligibility for membership in the association includes all retired and active school, state and public employees and their spouses who fulfill their financial obligations, all PERA annuitants, as well as other individuals interested in education and public welfare. The association was organized in 1950 to promote and protect the economic well-being and quality of life for all retired school employees. In 2007, the Board voted to expand membership to include all retired public employees who pay into PERA, including state, DOW, CDOT, corrections, judicial, parks, etc.

Our efforts in legislation, health issues, retirement seminars, membership workshops, leadership training, volunteerism and communications are geared toward maintaining a high standard of living for Colorado retirees.

The Colorado School and Public Employees Retirement Association was found in 1950 as a means of addressing the concerns of all retired school employees in Colorado. With expanded membership, our current mission is to promote the personal, social, educational interests and economic security of retired PERA employees.



 


  NEW!
  Highlights from the 2011 
  Winter CSPERA Newsletter

    Click here to read the 2011
    Winter newsletter.


Newsletter Archive

2011 August Newsletter

2011 Summer Newsletter

  2011 Winter/Spring Newsletter

 

 

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