e-Newsletter, Issue #51, July 22, 2010
Colorado expected its state retirement fund to go broke in 30 years. And that’s if the fund’s investments generated the expected 7 percent annual return.
The state made changes in 2004 and 2006 to the benefit structure for new hires, said Meredith Williams, chief executive of the Colorado Public Employees’ Retirement System. “We knew we had issues; we didn’t think we would fail,” he said.