Colorado PERA

What Colorado PERA does

Colorado Public Employees' Retirement Association (Colorado PERA), legally Colorado Public Employees' Retirement Association, is a quasi-governmental, statutory pension trust established in 1931 under Title 24, Article 51 of the Colorado Revised Statutes. Headquartered in Denver with a secondary office in Westminster, PERA administers defined benefit, defined contribution, voluntary supplemental retirement savings, retiree health benefits, life insurance, and survivor/disability programs for more than 730,000 current and former public employees and 500+ affiliated government agencies, public schools, universities, municipalities, courts, and the Denver Public Schools and Judicial divisions. The organization serves as a Social Security substitute for most members.

The core product is the Defined Benefit (DB) Plan, which provides lifetime monthly benefits calculated as highest average salary multiplied by 2.5% multiplied by years of service. This is complemented by the Defined Contribution (DC) Plan (established 2006), the PERAChoice option for employees who may elect between DB and DC, the PERAPlus 401(k) Plan (established 1985), and the PERAPlus 457 Deferred Compensation Plan (assumed 2009), recordkept by Empower Retirement. Retiree health, dental, and vision coverage is delivered through PERACare in partnership with UnitedHealthcare, Kaiser Permanente, UMR, Cigna Dental, Delta Dental, and VSP; optional life insurance is administered through Unum. The investment platform offers the PERAdvantage fund lineup (seven primary options plus target-date series and self-directed brokerage) and an annuity rollover marketplace through Blueprint Income.

Operationally, PERA manages approximately $75 billion in assets under direction of a 16-member Board of Trustees (12 directly elected by members and retirees), with Aon as investment consultant and an in-house investment organization covering equities, fixed income, real estate, private equity, alternatives, and stewardship. Member-facing technology includes the multifactor-authenticated online My PERA Account portal, iOS/Android mobile app, secure messaging, the STARS employer reporting system, and a multi-channel education program spanning webinars, town halls, video library, and the PERA Ambassador community initiative. The revenue model is structurally non-commercial: funding is statutory member and employer contributions plus investment returns on the trust fund, with member contribution rates fixed by Colorado law per division.

Name

Colorado PERA

Legal name

Colorado Public Employees' Retirement Association

Website

https://copera.org

Company type

Private

Founded year

1931

Operating status

Operating

Headcount range

251–500 employees

Short description

Colorado PERA is a quasi-governmental pension trust, established 1931 by Colorado statute, administering defined benefit, defined contribution, supplemental 401(k)/457, retiree health, and life insurance benefits for 730,000+ current and former public employees across 500+ Colorado government agencies, schools, universities, courts, and municipalities.

Ownership category

akta.pro rank

Product category

Public Pension Administration

NAICS

Pension Funds (52511), Insurance and Employee Benefit Funds (5251), Health and Welfare Funds (525120)

akta.pro primary industry

Taft-Hartley / Labor Union & Public Sector Retirement Systems (FSAAAGAK)

akta.pro secondary industry

Disability & Leave Administration (STD/LTD/FMLA/Paid Leave) (HLAEALAM)

Keywords

• Public pension administration
• Defined benefit retirement
• Public sector retirement benefits
• Pension fund investment management
• Retiree health benefits

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Others

Revenue model

1. Member Contributions: Public employees contribute a fixed percentage of their salary to retirement trust funds as mandated by state law. Contributions are tax-deferred and pre-funded.
2. Employer Contributions: PERA-affiliated government agencies and public entities contribute a percentage of employee pay to the trust fund as established by state law.
3. Investment Returns: Trust funds are invested by PERA under Board of Trustees direction to generate returns that fund long-term retirement obligations. PERA manages approximately $75 billion in assets.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Colorado PERA administers a public-sector retirement and benefits system for Colorado's public employees and retirees. Its core offerings include the Defined Benefit (DB) Plan providing lifetime monthly pension income, a Defined Contribution (DC) Plan alternative, voluntary PERAPlus 401(k) and 457 supplemental savings plans, and PERACare retiree health, dental, and vision benefits. The organization manages approximately $75 billion in assets serving more than 730,000 current and former public employees of 500+ affiliated government agencies, schools, universities, and public entities in Colorado.

Product overview

Colorado PERA provides retirement and related benefits to more than 730,000 current and former public employees through a multi-product platform. The core offering is the Defined Benefit (DB) Plan, a pension providing lifetime monthly benefits, complemented by the Defined Contribution (DC) Plan and PERAChoice option for certain new employees. Supplemental retirement savings are available through the PERAPlus 401(k) and 457 Plans, with Empower Retirement as recordkeeper, offering PERAdvantage investment funds and annuity options via Blueprint Income. Health benefits are provided through PERACare with multiple insurance carriers (UnitedHealthcare, Kaiser Permanente, UMR, Cigna Dental, Delta Dental, VSP). Additional services include optional life insurance through Unum, a secure online member portal with multifactor authentication, and the STARS employer reporting portal.

Differentiator

Problem solved

Functional benefit

Brands

• PERAPlus: Voluntary retirement savings plans including 401(k) and 457 plans for PERA members.
• PERACare
• PERAChoice

Products and services

• PERA Defined Benefit (DB) Plan A pension plan where PERA invests funds on behalf of members and provides a lifetime monthly benefit in retirement. Benefits are calculated using the formula: highest average salary x 2.5% x years of service. Available to employees of Colorado state government, public schools, universities, courts, cities, towns, state agencies, and other public entities across five divisions (State, School, Local Government, Judicial, Denver Public Schools).
• PERA Defined Contribution (DC) Plan A defined contribution alternative to the PERA defined benefit plan, available as an option for certain new employees of State agencies, community colleges, and District Attorneys. Members direct their own investments using PERAdvantage investment options.
• PERAPlus 401(k) Plan A voluntary retirement savings plan allowing employees to save additional money on top of their Defined Benefit or Defined Contribution account through pre-tax or Roth contributions. Empower Retirement serves as the recordkeeper. Subject to standard 401(k) IRS contribution limits and early withdrawal penalties.
• PERAPlus 457 Plan A Deferred Compensation Plan for employees of PERA-affiliated employers, offering the same investment fund options as the 401(k) Plan. Unlike 401(k) withdrawals, 457 withdrawals are not subject to early withdrawal penalties. Provides supplemental retirement savings beyond the DB or DC Plan.
• PERACare Health Benefits Program PERA's health benefits program offering a variety of plans with health, dental, and vision care coverage for retirees, benefit recipients, and their eligible dependents. Plans include Pre-Medicare (UMR, Kaiser Permanente), Medicare Advantage (UnitedHealthcare, Kaiser Permanente), and combination coverage options with maximum premium subsidies of $230/month (pre-Medicare) and $115/month (Medicare) for those with 20+ years of service credit.
• PERAdvantage Funds A lineup of seven primary investment options plus a target retirement date series and a self-directed brokerage account for participants in the 401(k), 457, and DC plans. Includes U.S. Large Cap Stock, International Stock, Fixed Income, Real Return, and Socially Responsible Investment (SRI) Funds.
• PERAChoice An option offered by some PERA employers allowing employees to choose between the PERA Defined Benefit (DB) Plan and the PERA Defined Contribution (DC) Plan at the time of hire.
• PERAPlus Annuity Rollover Marketplace Access to guaranteed income annuity choices through Blueprint Income, including Stable Value Fund fixed annuity options and Qualified Longevity Annuity Contract (QLAC) options for PERAPlus 401(k), 457, and DC Plan participants.
• PERA Life Insurance Program Optional life insurance program administered through Unum, including an Accidental Death and Dismemberment (AD&D) benefit. Available during annual enrollment held every April-May.
• STARS (Secure Transmission And Reporting System) An employer portal for submitting contribution reporting and member information to Colorado PERA. Provides efficient processing of employer information through a secure online system for the 500+ affiliated government agencies, schools, universities, and public entities.

Quantifiable outcome

• 40 consecutive years of Certificate of Achievement for Annual Financial Report
• +1 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core, minor and secondary.

• Empower RetirementcoreTechnology or IntegrationEmpower Retirement serves as the recordkeeper for PERAPlus 401(k) and 457 Plans, and the Defined Contribution Plan. Handles account administration, fund management access, and participant services for voluntary retirement savings plans. Recordkeeping services include account setup, contribution processing, and investment fund options.
• PNC Bank (formerly FirstBank)minorOthersFirstBank accounts transitioning to PNC as of June 21, 2026. Direct deposit of PERA benefit payments should not be interrupted by the transition. Bank services for benefit payment distribution.
• UnitedHealthcarecoreOthersMedicare Advantage group plan provider for PERACare. Group Medicare Advantage plans offered through PERA separate from individual plans. Colorado PERA UnitedHealthcare Group Medicare Advantage coverage continues despite changes to individual market.
• Kaiser PermanentecoreOthersHealth maintenance organization providing both Medicare and pre-Medicare plan options through PERACare. Kaiser offers Medicare Advantage and HMO plans for pre-Medicare retirees.
• UMRsecondaryOthersPre-Medicare health plan carrier through PERACare providing coverage options for retirees under age 65 not yet eligible for Medicare.
• Cigna DentalsecondaryOthersDental insurance carrier for PERACare program providing dental coverage options to retirees and their dependents.
• Delta DentalsecondaryOthersDental insurance carrier alternative option through PERACare program for retiree dental coverage.
• VSPsecondaryOthersVision insurance carrier for PERACare providing vision care coverage and eye care services to retirees.
• Blueprint IncomesecondaryTechnology or IntegrationProvides annuity options for PERAPlus 401(k), 457, and DC Plan participants through Colorado PERAPlus Annuity Rollover Marketplace. Offers Stable Value Fund fixed annuity and Qualified Longevity Annuity Contract (QLAC) options.
• AoncoreOthersInvestment consultant retained by PERA Board to provide investment advisory services, portfolio analysis, and strategic investment guidance for the $75 billion fund.
• Westerra Credit UnionminorGTM or Marketing PartnerPartnership on financial fraud prevention education. Colorado PERA and Westerra collaborate to educate members about financial fraud targeting retirees and retirement accounts.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Others

• Empower Retirement: Empower is the recordkeeper serving Colorado PERA's PERAPlus 401(k)/457 and DC Plans, and is itself a major recordkeeping platform serving other public-sector defined contribution plans—adjacent ecosystem participant rather than a direct competitor.

Direct peers

• CalSTRS (California State Teachers' Retirement System): CalSTRS administers pension and health benefits for California public educators; comparable to Colorado PERA's School Division and broader public-employee pension-plus-health-benefit structure.
• New York State and Local Retirement System (NYSLRS): NYSLRS administers pension benefits for New York public employees through the state Comptroller, with similar defined-benefit structures and statutory governance to Colorado PERA.
• Texas TRS (Teacher Retirement System of Texas): Texas TRS is a large state pension and health-care trust serving Texas public educators and retirees, with a pre-funded defined benefit, supplemental savings plans, and TRS-Care retiree health—paralleling Colorado PERA's full-stack offering.
• Pennsylvania State Employees' Retirement System (SERS): Pennsylvania SERS administers defined benefit pensions and supplemental savings plans for Commonwealth employees, with a comparable structure and scale to Colorado PERA.
• Ohio Public Employees Retirement System (OPERS): OPERS provides defined benefit, defined contribution, and retiree health care to Ohio public employees, mirroring Colorado PERA's product platform and statutory public-employee mandate.
• Washington State Department of Retirement Systems (DRS): Washington DRS administers public employee pension plans across multiple membership categories and is one of the peer systems Colorado PERA benchmarks itself against on cost and service delivery.
• Virginia Retirement System (VRS): VRS administers defined benefit, defined contribution, hybrid, and retiree health programs for Virginia public employees; directly comparable in multi-plan retirement and health-benefit scope to Colorado PERA.
• CalPERS (California Public Employees' Retirement System): CalPERS is the largest U.S. public pension fund, providing defined benefit and health benefits to California public employees—directly comparable to Colorado PERA in mandate, product structure, and statutory governance model.
• Florida Retirement System (FRS): FRS offers both a defined benefit Pension Plan and defined contribution Investment Plan to Florida public employees, providing the same DB/DC choice architecture as PERAChoice offered at Colorado PERA.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/ColoradoPERA
• Facebookfacebook.com/thedimecolorado
• Xx.com/ColoradoPERA
• LinkedInlinkedin.com/company/colorado-pera

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Colorado PERA