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Thursday, November 28, 2024

Colorado reports $3.3 million in public pension contributions

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As of June 2020, Colorado had received $3.3 million in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau’s Annual Survey of Public Pensions.

Of that amount, $3 million was in state pension funds, and the remaining $305,575 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

Residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming do not pay state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

Colorado reported data from 72 pension systems, including 11 state-level pension funds and 61 local-level systems. The total number of pension system members was 711,502 (668,247 at the state level and 43,255 at the local level).

Contributions to Colorado's public pension funds
LocalStateLocal & State
Employee contributions$108,895$908,711$1,017,605
Government contributions$196,681$2,071,370$2,268,051
Total Contributions$305,575$2,980,081$3,285,657
Source: US Census Bureau

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