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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.
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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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