California Public Employees Retirement System (CalPERS) vs Colorado Public Employees Retirement Association (PERA)
Side-by-side pension health comparison from DOL and public plan data
California Public Employees Retirement System (CalPERS) (C) and Colorado Public Employees Retirement Association (PERA) (C) are close on the PensionRisk rubric. Funding ratios sit at 67% and 65% respectively — within a few points of each other.
With grades this close, the comparison turns on plan-specific factors: status (active vs frozen), participant maturity, sponsor financial health, and multi-year trajectory rather than the headline composite.
Verdict
Colorado Public Employees Retirement Association (PERA) has a stronger Pension Health Score of 61/100 (C) compared to California Public Employees Retirement System (CalPERS) at 58/100 (C). Funding ratios differ by 2.5 percentage points (64.8% vs 67.3%). Colorado Public Employees Retirement Association (PERA) covers 625,000 participants.
| Metric | California Public Employees Retirement System (CalPERS) | Colorado Public Employees Retirement Association (PERA) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 58/100 (C) | 61/100 (C)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 67.3%* | 64.8% |
| Total Assets | $473.0B | $58.0B |
| Total Liabilities | $703.0B | $89.5B* |
| Unfunded Liability | $230.0B | $31.5B* |
| Participants | 2,050,000 | 625,000 |
| 1-Year Investment Return | 5.8%* | 5.5% |
| Plan Type | public | public |
| PBGC Risk Level | moderate | high |
| Sponsor | State of California | State of Colorado |
Colorado Public Employees Retirement Association (PERA) has a stronger Pension Health Score of 61/100 (C) compared to California Public Employees Retirement System (CalPERS) at 58/100 (C). Funding ratios differ by 2.5 percentage points (64.8% vs 67.3%). Colorado Public Employees Retirement Association (PERA) covers 625,000 participants.
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