In the last session of the Colorado General Assembly, a bi-partisan coalition passed cuts in state employees’ benefits annual cost of living increases so that PERA will be more likely to be able to pay pensions down the road. Ron Lieber calls the legislature’s action courageous. Pensioners are suing over breach of contract. And gubernatorial candidate, Tom Tancredo, says the legislature didn’t go far enough. He told a recent press conference that more needs to be done to protect taxpayers from having to bear the cost of making up for PERA’s under funded liabilities. PERA is the agency that administers pensions for employes of the state of Colorado and other governmental employers in the state. Your homework is here and here.