Colorado PERA Fiduciaries: Severely Underfunded, But See No Problem. "We Don't Need Additional Contributions," Colorado PERA General Manager Greg Smith. A few years ago, Colorado PERA officials and their hired lobbyists argued that the PERA public pension system's 69 percent funded ratio was such a crisis that the contracts of Colorado PERA pensioners just had … Continue reading Colorado PERA Fiduciaries: Severely Underfunded, But See No Problem.