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Colorado officials clash on how to finance public employee retirement

Over the course of his first year in office, Colorado Treasurer Walker Stapleton has targeted the state's public-employee pension plan, known as PERA, underlining its billions of dollars in liabilities and arguing that it should be reworked to reduce the state's obligations in part by giving over money to contributors to invest themselves. He brought his case to the state's House Finance Committee on Thursday and predictably ran up against deep Democratic skepticism.