401(k) Plan (PERAPlus)

PERA established the Voluntary Investment Program (PERAPlus 401(k) Plan) on January 1, 1985. The PERAPlus 401(k) Plan includes voluntary contributions made by employees of PERA-affiliated employers in the State, School, Local Government, Judicial, and Denver Public Schools Division Trust Funds. These contributions are entirely separate from those that members make to the defined benefit plan each month.

Defined Contribution Plan

The Defined Contribution Retirement Plan (DC Plan) was established on January 1, 2006. The DC Plan offers a defined contribution alternative to the PERA defined benefit plan for certain new employees of State agencies and departments, most community colleges, and the District Attorney within each Judicial District, and if authorized by the county and the District Attorney, the attorneys within each Judicial District. Beginning on January 1, 2019, DC Plan eligibility was extended to certain new employees in the Local Government Division and certain new classified employees at State Colleges and Universities.

457 Plan (PERAPlus)

On July 1, 2009, PERA assumed the administrative and fiduciary responsibility for the State of Colorado Deferred Compensation Plan (now known as the PERAPlus 457 Plan). The PERAPlus 457 Plan includes voluntary contributions made by employees working for a PERA-affiliated employer that have also affiliated with the PERAPlus 457 Plan. The employees of some employers that had affiliated with the State of Colorado Deferred Compensation Plan prior to July 1, 2009, and were not affiliated with PERA, remain eligible to contribute.

These three plans (PERAPlus 401(k) Plan, DC Plan, and the PERAPlus 457 Plan) are known collectively as the Capital Accumulation Plans (CAPs). PERA publishes an Annual Report for the CAPs and distributes it to all plan participants. Fact sheets for the PERAdvantage investment options are made available online on a quarterly basis.

As a participant in the CAPs you have access to seven primary investment options, a target retirement date series, and a self-directed brokerage account. Each investment option represents a specific asset class with varying levels of risk and is diversified within that asset class using a selection of underlying investments. The funds may include underlying allocations to different investment styles and may use both active and passive investment strategies. For those wanting a less active role, the target retirement date funds are designed to automatically grow more conservative over time as you reach your target retirement date.