COLORADO DISTRICT COURT REVERSED AND REMANDED FOR TRIAL.
This decision is an immense victory for Colorado PERA retirees. The General Assembly may not shift taxpayer obligations onto the backs of a small group of elderly PERA retirees. Since the Colorado political establishment and media do not welcome this ruling, it is not being reported in the press. (Odd, that the initial district court ruling was trumpeted, is it not?)
From the saveperacola.com website:
“We Have A Contract for COLA!!!
October 13, 2012
The Colorado Court of Appeals ruled Thursday that PERA retirees have a contract with PERA that includes their annual benefit increases (aka COLA.) The unanimous court wrote:
We agree with plaintiffs, subject to certain limitations explained below. Specifically, we conclude that plaintiffs have a contractual right, but that the court must still determine whether any impairment of the right is substantial and, if so, whether the reduction was reasonable and necessary to serve a significant and legitimate public purpose. Therefore, we reverse the summary judgment and remand the case to the district court for further proceedings.
You may read the 37 page decision at this link:
http://saveperacola.files.word…
Plaintiffs will now confer with their attorneys as to how to proceed in the case. While we have won a significant battle, we expect PERA and Colorado to now vigorously defend their claim that there was “actuarial necessity” for reducing the COLA.
Thank you to the hundreds of donors to Save PERA COLA’s legal fees. We could not have gotten this far without you. We have far to go. If you can, please send another check. Visit our website at
www.SavePERACOLA.com/support.”
Friend Save Pera Cola on Facebook, visit saveperacola.com, support the rule of law in our excellent state!
MY POST WAS PUT UP A DAY OR SO AFTER THE COLORADO COURT OF APPEALS DECISION WAS RELEASED. IT HAS NOT BEEN REPORTED IN THE COLORADO MEDIA, THEREFORE IT WILL BE “BREAKING” FOR MOST COLORADO RESIDENTS FOR SOME TIME.
THE DECISION IMPACTS THE CONTRACTUAL RIGHTS OF 80,000 CURRENT PERA RETIREES AND MANY MORE TO COME. I DISAGREE WITH YOUR CHARACTERIZATION OF THE SIZE OF THE AFFECTED GROUP AS “NOT VERY MANY PEOPLE.”
WHAT IS YOUR AVERSION TO CAPITAL LETTERS? I’M QUITE FOND OF THEM.
GRAY, RELAX.
that is where I saw it.
Don’t tell me to relax unless you’re going to hand me a beer
Read my rant about that article in the most recent thread. If I ever meet you I will happily buy you a beer.