U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Colorado
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-25-2013, 07:08 PM
 
Location: san diego
10 posts, read 10,719 times
Reputation: 15

Advertisements

My mom is a retired teacher in Colorado area and one of her colleagues mentioned to her COPERA. I've seen their blog but would want to hear what others think about it.
Reply With Quote Quick reply to this message

 
Old 07-25-2013, 07:10 PM
 
Location: san diego
10 posts, read 10,719 times
Reputation: 15
Sorry I missed adding the link to the blog The Dime | Cents & Sensibility - A blog about money for people who aren't all about money.

Last edited by katherinejones24; 07-25-2013 at 07:35 PM..
Reply With Quote Quick reply to this message
 
Old 07-25-2013, 07:26 PM
 
Location: CO/UT/AZ/NM Catch me if you can!
4,697 posts, read 4,334,860 times
Reputation: 10278
Fixed your link to The Dime for you.

I've never seen it before. Looks like a collection of useful money saving tips to me. PERA stands for "Public Employee's Retirement Association." What's your question?
Reply With Quote Quick reply to this message
 
Old 07-25-2013, 07:35 PM
 
Location: san diego
10 posts, read 10,719 times
Reputation: 15
I am just trying to help my mom figure out the best way she can go with her retirement fund.Any suggestions?
Reply With Quote Quick reply to this message
 
Old 07-25-2013, 07:57 PM
 
Location: Na'alehu Hawaii/Buena Vista Colorado
4,877 posts, read 9,622,106 times
Reputation: 4948
I'm not sure I understand. Did your Mom retire from teaching in Colorado? Then she should know who to talk to to get the information she needs. PERA is a pension; what you withdraw is based on what you put in (how much you earned). When my husband retired, they had plenty of meetings explaining retirement benefits, health benefits, etc.
Reply With Quote Quick reply to this message
 
Old 07-25-2013, 08:15 PM
 
Location: san diego
10 posts, read 10,719 times
Reputation: 15
Quote:
Originally Posted by Dreaming of Hawaii View Post
I'm not sure I understand. Did your Mom retire from teaching in Colorado? Then she should know who to talk to to get the information she needs. PERA is a pension; what you withdraw is based on what you put in (how much you earned). When my husband retired, they had plenty of meetings explaining retirement benefits, health benefits, etc.

Thank you for your input. Yes, she retired from teaching in Colorado. Whom should she talk to? You are right PERA is her pension so she is very careful about it.
Reply With Quote Quick reply to this message
 
Old 07-25-2013, 09:34 PM
 
Location: CO/UT/AZ/NM Catch me if you can!
4,697 posts, read 4,334,860 times
Reputation: 10278
Quote:
Originally Posted by katherinejones24 View Post
Thank you for your input. Yes, she retired from teaching in Colorado. Whom should she talk to? You are right PERA is her pension so she is very careful about it.
The first site you found was just a blog on money saving tips. You and your Mom can get information from this actual Colorado PERA website.
Reply With Quote Quick reply to this message
 
Old 07-25-2013, 10:33 PM
 
Location: Western Colorado
11,058 posts, read 12,406,241 times
Reputation: 25990
I don't know about Colorado but when I retired from Arkansas we were required to attend a retirement seminar and a social security seminar. I'm sure Colorado has about the same system. Tell your mom to call the state retirement people and talk to them, they should set up a retirement counseling session for her.
Reply With Quote Quick reply to this message
 
Old 07-27-2013, 05:18 AM
 
Location: Colorado
1,969 posts, read 1,977,489 times
Reputation: 1724
Yes, I'm a state employee and there are periodic announcements of retirement meetings you can attend. Go to the PERA website.
Reply With Quote Quick reply to this message
 
Old 07-27-2013, 08:52 AM
 
Location: Littleton, CO
3,111 posts, read 4,884,118 times
Reputation: 5429
Quote:
Originally Posted by katherinejones24 View Post
I am just trying to help my mom figure out the best way she can go with her retirement fund.Any suggestions?
I am not sure what this means? Do you want to take her retirement fund and invest it somewhere else? I don't think that this is an option.

If you mom retired, she is receiving a monthly check from PERA and will continue to get that check for the rest of her life.

The formula for figuring out how much she will receive is:

(years of service x 2.5%) x the average of the 3 highest years of her salary = Pension

IOW, if she worked and paid into PERA for 30 years, and her highest average salary was $70,000, then her yearly pension amount would be:

(30 x 0.025) x $70000 or 0.75 x $70000 = $52000/year or $4,375/month before taxes.

She will receive yearly cost of living adjustments as well.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Colorado
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top