A change in law that resulted in lower take-home pay for many University of Colorado employees comes to an end this month.
For the past two years, a 2.5 percent salary contribution into Colorado Public Employees’ Retirement Association (PERA) accounts — previously made by state employers – was the responsibility of workers. Gov. Bill Ritter signed the measure into law in 2010 as part of a budget-balancing plan, and Gov. John Hickenlooper continued the change last year.
Because the contribution shift was not included in this year’s budget, the 2.5 percent contribution shifted back from employees to employers on July 1.
Learn more in the July 19 issue of CU Connections.