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.

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.

Most Plan transactions and information requests can be made 24 hours a day, 7 days a week by logging on through PERA's website:

• Click “Back to Login”
• Enter your User ID and password then click on “DC Account Access”

You may also call 1-800-759-7372 and select the DC option.

Your contribution level is mandatory and is established by Colorado General Assembly. The current contribution levels are available on PERA’s website.

You may not make additional contributions above this level to the PERA DC Plan. If you would like to make additional contributions toward your retirement savings, you may also enroll in the PERAPlus 401(k) or 457 Plan(s). (Enrollment in the 457 Plan is limited to employees of employers who have affiliated with the Plan.)

You can return forms by fax, regular mail or overnight mail.

By fax:
1-888-310-6019

By Regular mail:
Voya
Attn: Colorado PERA
P.O. Box 389
Hartford, CT 06141

Overnight mail:
Voya
Attn: Colorado PERA
One Orange Way
Windsor, CT 06095

The vesting schedule is determined by number of years of participation, not PERA service credit. One year of participation equals 12 months of contributions.

Your contributions: 100% immediately vested*

Your Employer’s Contributions:

50%	Immediately*
60%	At the end of one year of membership*
70%	At the end of two years of membership*
80%	At the end of three years of membership*
90%	At the end of four years of membership*
100%	At the end of five years of membership*

* Plus/minus investment gains/losses, minus fees.

In the PERA DC Plan, you have access to the PERAdvantage line of investments. Consider choosing your investments based on one of the two paths below that best describe your investment knowledge:

1. I am not sure how to invest.
   
   Choose a Target Retirement Date Fund based on your expected retirement date:
   • PERAdvantage Income Fund
   • PERAdvantage 2025 Fund
   • PERAdvantage 2030 Fund
   • PERAdvantage 2035 Fund
   • PERAdvantage 2040 Fund
   • PERAdvantage 2045 Fund
   • PERAdvantage 2050 Fund
   • PERAdvantage 2055 Fund
   • PERAdvantage 2060 Fund
   • PERAdvantage 2065 Fund
2. I am comfortable making my own investment decisions.
   
   Choose a mix of the following primary investments:
• PERAdvantage Capital Preservation Fund
• PERAdvantage Fixed Income Fund
• PERAdvantage Real Return Fund
• PERAdvantage U.S. Large Cap Stock Fund
• PERAdvantage International Stock Fund
• PERAdvantage U.S. Small and Mid Cap Stock Fund
Choose from additional investment options:
• PERAdvantage SRI Fund (screens for various social causes)
• Self-Directed Brokerage Option

You may change your fund elections at any time by logging on through PERA's website:

• Click on "Back to Login"
• Enter your User ID and password then click on "DC Plan Account Access"

You may also call 1-800-759-7372 and select the DC option. Please see the Investments section for more information on the funds.

If you need help choosing your investments, you have access to professional investment advice at no additional charge through Voya Retirement Advisors . For more information, review the Voya Retirement Advisors section or call 1-800-759-7372, select the DC option, and ask to speak with a VRA Investment Advisor Representative.

Transactions completed before 2:00 p.m. (Mountain time) will be processed the same business day. Transactions completed after 2:00 p.m. (Mountain time) will be processed the next business day. You may cancel a transaction if you do so before 2:00 p.m. (Mountain time) on the same day the transaction is scheduled to be made.

You may move money between investment options any time by logging on through PERA's website:

• Click on “Back to Login”
• Enter your User ID and password then click on “DC Account Access”

There are three ways to transfer money between investment options. All transfers must be made in one percent increments, and you cannot transfer money from one investment option to another and back to the original option in the same day. Transfers to the Self-Directed Brokerage Account must be at least $1,000 and you must keep at least $500 invested in the PERAdvantage funds.

1. Direct Transfer To perform a direct transfer you may also select “Fund Transfer” in the “Manage Investments” area (after you log in to your account) to transfer money into and out of specific funds. You may also call 1-800-759-7372 and select the DC option.



2. Reallocate Balances — You may wish to move money automatically across all investment options by selecting “Reallocate Balances” option in the “Manage Investments” area (after you log in to your account).



3. Automatic Rebalancing — Once you have established your investment election allocations you can set your account to rebalance itself back to your pre-set percentages on a regular basis. Rebalancing will occur every 90 days until you decide to turn off the feature or you make a direct transfer.

Transactions completed before 2:00 p.m. (Mountain time) will be processed the same business day. Transactions completed after 2:00 p.m. (Mountain time) will be processed the next business day. You may cancel a transaction if you do so before 2:00 p.m. (Mountain time) on the same day the transaction is scheduled.

Through the PERA DC Plan you have access to the Voya Retirement Advisors. This service offers you objective, professional financial advice and planning to help you set and meet your retirement goals. Voya Retirement Advisors uses information on file about your retirement plan balance and pension benefit, and allows you to include a Social Security estimate to develop a retirement income projection for you. You are encouraged to add more data to the analysis, such as your other retirement resources like savings or investment accounts, in order to look at the entire picture. The service helps you consider whether your savings will be adequate and explores changes designed to improve the chance of meeting your retirement goals.

Voya Retirement Advisors offers you two ways to get the support you need:

1. Use Online Advice, an interactive service, accessible through this website. This service is available at no additional cost.
2. Enroll in Professional Management if you prefer to delegate management of your account to a professional advisor. Call for a no-obligation retirement assessment. If you decide to enroll, a monthly fee will apply.

Compare the two service options
For more information about Voya Retirement Advisors, please review the Service Overview which details the fees associated with Professional Management.

** Advisory Services provided by Voya Retirement Advisors, LLC (VRA). Voya Retirement Advisors does not give tax or legal advice. If you need tax advice, consult your accountant or if you need legal advice consult your lawyer. For more information, please read the Voya Retirement Advisors Disclosure Statement. A Disclosure Statement may be viewed online by accessing the Voya Retirement Advisors link through this website. You may also request a Disclosure Statement from a VRA Investment Advisor Representative by calling 1-800-759-7372 and selecting the PERAPlus option. Edelman Financial Engines® is a registered trademark of Edelman Financial Engines, LLC.

This website offers you the most convenient and efficient way to manage your Plan account. Check back as often as you'd like for the most current information available.

To get a summary of your account status, log on through PERA's website:

• Click on “Back to Login”
• Enter your User ID and password then click on “DC Account Access”

Also, your account statement is available online to give you timely and easy access to your retirement plan information. To access your account statement, log on to the Plan website and click on “Colorado PERA DC Plan” on the drop down menu. Then click on the "Statement" tab. You may enter a specific date range and generate a statement view for that time period. An account statement will be mailed to your home address generally within 15 business days after the end of each calendar quarter. Also, you have the ability online to select whether or not you would like to receive a quarterly or annual statement.

An account statement will be mailed to your home address generally within 15 business days after the end of each calendar quarter. Also, you have the ability online to select whether or not you would like to receive a quarterly or annual statement.

Anytime you complete a transaction a confirmation statement will be mailed to you, generally within two or three business days after the transaction is processed.

DC Plan participants will pay a Plan administration flat fee of $1.00 per month. If you also participate in the PERAPlus 401(k) and/or 457 Plan, you will pay an additional $1.00 per month for each plan. You will also pay a Plan administration asset-based fee of 0.03 percent on each PERAdvantage fund. That fee is built into the total asset-based fee, which is automatically deducted from the investment option’s return.

Fee Schedule

Plan participants pay a Plan administration flat fee of $1.00 per month and a total asset-based fee, which includes a 0.03 percent annual Plan administration asset-based fee. Review the fee schedule to determine the total-asset based fee for each of the investment options. (The schedule may change at any time.)

There is no Plan administration asset-based fee for the Self-Directed Brokerage Account because PERA receives revenue sharing from TD Ameritrade.

When you leave PERA-covered employment, you have several choices regarding the money in your PERA DC Plan account:*

• Leave the money in the Plan (you must start taking distributions by April 1 of the year following the year you turn age 72).
• Request installment payments.
• Roll over the balance to another qualified plan, 403(b) plan, governmental 457 plan, or an IRA.**
• Take the money in cash, called a lump-sum distribution.

Distribution choices and rules are complicated. Voya Financial Advisors' Retirement Consultants*** are available to help you develop a strategy that makes sense for you, including understanding your options, at no cost and with no obligation. Simply call 1-800-759-7372 and select the DC option.

For lump-sum withdrawals you can elect to have your distribution rolled over to a qualified plan, 403(b) plan, 457 plan, or IRA (if the plan accepts rollover money from other plans). If you elect a direct rollover to a traditional IRA, you will not owe federal income taxes on your distribution in the year it is paid. If you elect a direct rollover to a Roth IRA, the amount of the rollover will be included in your taxable income for that year. PERA will not withhold any amounts for this tax liability. If you do not elect a direct rollover, 20 percent of your distribution will be withheld for federal taxes. Prior to rolling money over, you may want to confirm with the plan receiving the money of any changes that may affect the distribution options of the rolled in-money.

Note: Periodic payments of 10 years or more are not eligible for rollover.

Terminated partial withdrawals can be taken by participants who have terminated PERA-covered employment, retired, or are on a PERA disability retirement. There is no minimum withdrawal amount.

You may transfer plan funds to purchase or reinstate service credit before you terminate employment from a PERA employer. Contact PERA for more information.

* Distributions from the Plan will be subject to 20 percent federal tax withholding and, if you are less than age 59½, a 10 percent early withdrawal penalty may apply. Ordinary income taxes may apply. State and local taxes and withholding may also apply. The rules governing distribution provisions in PERA’s Defined Contribution Plan may be different than the distribution provision rules in other plans.

** Depends upon if the plan receiving the money allows rollover money into the plan.

*** Retirement Consultants are registered representatives of Voya Financial Advisors, Inc. (Member SIPC).

Retirement Consultants for Transition Counseling
You've worked hard to accumulate your savings and keeping it invested for retirement should be one of your key goals. But if you're moving on to a new job or retirement, you will need to make a decision about what to do with your Plan account. You typically have four choices:

Leave the money in this Plan.
You may be able to leave your retirement savings in this Plan, where you can continue taking advantage of the Plan features and investments, and your savings can continue to grow tax deferred. Be sure to review the Plan's distribution rules found in this Plan Highlights to see if you're eligible. Keep in mind that you won't be able to make contributions to this Plan once you've left employment.

Roll your savings into an Individual Retirement Account (IRA).
If you want to keep all your retirement savings in one account, consider rolling your Plan savings into an IRA. An IRA can offer additional flexibility and investment choices, and allows you to consolidate retirement savings from former employer plans and other IRAs. Having a single account to manage makes investment allocation and rebalancing easier. Note that Voya Financial Advisors, Inc. Retirement Consultants (Retirement Consultants)* can provide guidance on your IRA options.

Roll your savings into your new employer-sponsored plan.
If you're planning on or have completed a job change, you may be able to roll your savings into your new employer-sponsored plan. Be sure to check the features, investments, services, and fees of your new plan before deciding to move your savings.

Take your savings out in cash.
Cashing out should only be considered an option if you need access to your money immediately and have no alternative resource. If possible, only withdraw the money you immediately need and consider rolling over the rest of your savings to an IRA. By cashing out, you will lose the opportunity to continue growing your money tax deferred AND the amount you withdraw will likely be subject to income taxes as well as early withdrawal penalties. More information can be found under Withdrawals in this Plan Highlights.

Speak with the Retirement Consultants
Not sure what to do? Voya Financial Advisors, Inc. Retirement Consultants can help. They will take a look at your existing Plan, any other retirement accounts you may have, the money you're making and the money you're saving, then help you come up with a strategy that makes sense for you. Plus, you can continue to work with the same Retirement Consultant down the road. More importantly, they can help you better understand your options.

• Retirement Consultants are knowledgeable about the benefits and features of your Plan and Individual Retirement Accounts (IRAs).
• There is no additional fee for working with a Retirement Consultant.
• You can build an ongoing, one-on-one relationship with your Retirement Consultant. They will get to know you and your personal situation.
• You have direct access to your Retirement Consultant via phone and email.

Ready to get started?
Call 1-800-759-7372 and select the DC option to speak to a Voya Retirement Consultant.

* Retirement Consultants are registered representatives of Voya Financial Advisors, Inc.