PERA's Automatic Adjustment Provision (20-09)

Senate Bill 18-200, Modifications to the Colorado Public Employees' Retirement Association (PERA) to Eliminate Unfunded Liability, included an automatic adjustment provision (AAP) that triggers when PERA's trusts are not on track to reach full funding within the targeted 30-year period.  This issue brief discusses how the provision works and has been used since 2019.