The following PERA members are eligible to choose between the Colorado PERA Defined Benefit (DB) Plan and the Colorado PERA Defined Contribution (DC) Plan:
- State of Colorado employees hired on or after January 1, 2006.
- Certain community college employees hired on or after January 1, 2008,
- Classified college or university employee in the State personnel system hired on or after January 1, 2019.
- Local Government Division employees hired on or after January 1, 2019.
You have 60 calendar days from the date you commence employment to join the PERA DC Plan. If you do not choose a plan, you will be defaulted into the DB Plan.
After you have elected to join the PERA DC Plan by completing the forms given to you by your employer’s payroll/personnel office, go to
www.copera.org and click on “Defined Contribution (DC) Plan” from the “Members” menu. Then, click the “Determine how your PERA DC Plan contributions will be invested” link to choose how to invest your contributions.
To choose your investment elections, complete the following steps:
Step 1: Review Plan Information — Access important information to help you understand your PERA DC Plan investment options. You may view investment fund fact sheets, latest rates of return, and other pertinent materials.
Step 2: Make Investment Elections — Complete the requested personal information and specify how you want your contributions to be invested. Your elections must total 100 percent in whole percentages only. If the PERA DC Plan receives your first contribution and you have not made an investment election, your contribution will be invested in the PERAdvantage Target Retirement Date Fund according to the table below.
| Fund | Date of Birth Begin | Date of Birth End |
|---|
| PERAdvantage Income Fund | | 12/31/1957 or before |
| PERAdvantage 2025 Fund | 1/1/1958 | 12/31/1962 |
| PERAdvantage 2030 Fund | 1/1/1963 | 12/31/1967 |
| PERAdvantage 2035 Fund | 1/1/1968 | 12/31/1972 |
| PERAdvantage 2040 Fund | 1/1/1973 | 12/31/1977 |
| PERAdvantage 2045 Fund | 1/1/1978 | 12/31/1982 |
| PERAdvantage 2050 Fund | 1/1/1983 | 12/31/1987 |
| PERAdvantage 2055 Fund |
1/1/1988 |
12/31/1992 |
| PERAdvantage 2060 Fund |
1/1/1993 or after |
|
If there is no date of birth on file, the contribution will automatically be invested in the PERAdvantage Income Fund until PERA receives notification of your birthday. Future contributions will then be invested according to the table above.
Shortly after the Plan receives notification of your enrollment, you will receive a PERA Personal Identification Number (PIN). You will use your Social Security Number (SSN) and PIN to create a security user profile that includes a User ID and password. Using your User ID and password, you can change your future investment elections by logging in to www.copera.org. You may also call 1-800-759-7372 and select the DC Plan option. You will need your PIN to obtain Plan information over the phone or to speak with a Voya Participant Services Representative.