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I read with interest the Sept. 16 Speakout column, “It’s imperative that Colorado divest from Iran,” written by four esteemed Colorado legislators. The “Colorado” of the headline, in this instance, is in reference to Colorado PERA. Nowhere in this column did I find the same level of concern expressed for these same investments made by banks, brokerage and investment firms, business and labor pension funds, or even private individuals and legislators.
Why would a divestment bill only target PERA and no other such person or entity? Furthermore, divestment bills only target defined-benefit plans for divestment, not defined-contribution plans, which must only add one “clean” fund. One can only assume that as soon as these high-yield stocks are divested from PERA’s defined-benefit plan, they can and will be quickly purchased by any one person and any entity ... with the exception of Colorado’s PERA defined-benefit plan.
Since these divested stocks will continue to be listed on the stock market in this era of globalization, the only ones who will suffer are those teachers, policemen, firemen and public servants who have invested their lifelong savings in Colorado’s PERA defined-benefit plan.
Let’s trust our managers, board of trustees and shareholders/investors to make the correct financial decisions for Colorado’s PERA defined-benefit plan. That’s our responsibility! And our life savings!

Cheryl Flagg
PERA retiree
Steamboat Springs

READER COMMENTS

cheryl dont worry about your retirement funds from pera. your defined benefit program is very safe thats to the tax payers of colorado. what ever money you are due and that is not in the fund will come out of the tax payers pocket.
If you would like a real concern for a retirement program try the social security one most individuals are forced to be in. I would love to join pera but cant as I dont work for any government agency.
in 98 clinton had his best idea ever and that was to allow private accounts with ssi and look more like the federal government retirement program. this was in his state of the union address and both partys cheered the plan and all of the top dems were on stage saying it was the best thing to ever happen to ssi. I agreed and have been waiting. it never happened. when Bush proposed the same plan and had a real action plan attached to it the cheering stopped on the left and the program, that was the one clinton proposed and won approval on, was called a disaster and would only make the rich richer and the retired would do hungry. all of it lies but it fuled the fire and we have the same old ssi program.
now pera is wonderful for you as you will get your money no matter what is there as it is written in a law on the books.

Cheryl,
If you are really worried about investments in Iran, you should be more worried about the moneys received by our federal legislators from Iran.

The Colorado tin-foil-hat wearing legislators are mixing their political agendas and their deals with your money. And any successful investor knows that you never mix your deals. What's next on the legislator's agenda? Alcohol? Oil? Coal? Tobacco? Hamburgers? Pizza?

Remember that nutty liberal fandango of a many years ago that wanted pension funds to divest of companies selling drugs and healthcare products to South Africa? Who suffered the most as a result? The very same people who were denied the drugs-- the very same folks that the bleeding hearts thought that they were helping.

The only deal for pension fund managers is maximizing returns while minimizing risk for the investor. That's what the law requires of a fiduciary. The rest is political moonbattery and has no place in your wallet. Its illegal.

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ATTN: Cheryl Flagg
PERA retiree
Steamboat Springs

How's life in Steamboat on the Tax Payers dime. I bet the rest of us would like living in a resort town tucked away in the mountains !

Most of us Worker Bee's on Social Security Security will never live in Steamboat.

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This divestment won't hurt retirees, it will only hurt the taxpayers of Colorado as the investment returns decrease, the taxpayers will have to make up the difference for the Defined Distribution.

Actually, It would be balanced on the backs of the state employees (with the exception of police and teachers, again) as occured last time. The so called cost of living "increase" will be more inadequate.
Blunt, what you want sex offenders and other criminal running around? Colorado does not pay social security. PERA not only costs less than SS, but is much less than other states that pay both SS and retirement. But that does not matter, you work for yourself and begrudge those that work for the benefit of others

School teacher retired in Steamboat. I hope you worry ALOT!!!

Government takes care of government, not the people who pay their wages. How do these government employess and the legislator idiots dare tell us the tax payers must make up the loss in their retirement fund policy. Any law dictating that is nothing less than tyranny by the government over those who pay the cost of it's existence.

Is there no end to the greed, power and control of these charlatans posing as representatives of the people. When are you folks going to put aside your difference and strike out at these real, right in your face enemies that will inevitably take every freedom you have away from you in their insatiable hunger for even more power, control and the greed it produces.

Only greedy politicians would seek to destroy a retirement system that brought a 15% return last year. That return saved taxpayers billions. State politicians, be they democrats or republicans, couldn't care less about whether the retirement plan makes money or is a taxpayer liability. What they covet is control of the $40 billion in investments. There are powerful political special interests waiting in the wings ready to mop up that cash. Look what the feds did to social security. Do you want that type of management from state legislative pinheads? Ever visited a driver's license office? Tell them to go sell their own personal investments if they're that concerned with Iran!

Obviously there are many people who do not understand how PERA works and who pays for it. If it weren't for PERA state empoyees would be paying into Social Security and the state would also be paying into Social Security at a higher rate than is paid into PERA resulting in higher taxes for the taxpayers of Colorado. Oh and don't forget that the state employees, and teachers are included in this, are also taxpayers. So the net result for the taxpayers of Colorado is that PERA is a benefit to everyone who lives here and pays taxes here.

There are obviously many people who do not understand how PERA works. The employees must pay into PERA and the state pays in as well. This is very much like Social Security, except that the results are better and the state actually saves money since the rate at which the state pays is less than it would be if the employees were under Social Security. The result is actually a benefit to the taxpayers of Colorado. Don't forget that the employees, teachers, judges, state police etc are also Colorado taxpayers. Furthermore Cheryl made some very good points and if PERA were to divest of all interests in companies doing business in Iran it could have a devastating effect in that there are many very large corporations which have either direct or indirect ties to Iran.

Hey folks...when I moved to Steamboat Springs in 1972 and a person made it through the winter, we called it "survival of the fittest"! Most people left. There was only one stop light and a gravel road to the ski mountain. You're right, there is absolutely no way I could move here now on an educator's salary. But I have chosen to stay in Steamboat Springs since this has been my home for thirty-five years. Just one more reason to defend any and all threats made to my investments in Colorado PERA...in addition to the ones noted in my letter.

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