I’m disappointed The Durango Herald continues to award headlines to the frequently discredited views of Colorado Treasurer Walker Stapleton regarding his opinions on the Colorado Public Employee’s Retirement Association’s funding status (Herald, Dec. 31).

For years, Stapleton has obscured the truth about Colorado’s best investment, PERA. PERA provides state troopers, snowplow drivers, teachers and other public workers a secure retirement through a defined benefit program (pension).

The economic impacts of PERA are huge. La Plata County has nearly 2,000 active PERA members, and 1,057 have chosen to retire here. Together, these 1,057 retirees earn approximately $38 million in annual retirement income, or roughly $2,988 each per month.

These retirees then spend much of their income at local retailers such as Ace, Albertsons and Oscar’s Cafe. They pay for personal services such haircuts, oil changes and car washes. They take out loans for locally sold used cars. Perhaps they recently treated their grandkids with a special gift for the holidays, like a ride on the incredible Polar Express. They may receive a daily copy of the Herald!

Their local spending also generates substantial sales tax revenue for local municipalities such as Durango, Bayfield and Ignacio, resulting in a “multiplier” effect that goes well beyond the $38 million figure. Their spending creates numerous local jobs while increasing the income of workers through additional hours and gratuity. Moreover, they are unlikely to require public assistance in the form of food stamps or subsidized housing.

Furthermore, three independent reports, commissioned by the Colorado state General Assembly and released by third-party auditors in 2015, confirmed Colorado PERA outperforms its peers. Workers of all service levels receive the most efficient benefit possible, meaning taxpayers are getting the best possible return for the taxes they pay. The reforms enacted in SB-1 in 2010 are working to reduce the fund’s liabilities from the 2008 financial crisis. It is now projected to be fully funded in an actuarially sound time period.

I challenge the Herald to review these reports, ignore Stapleton’s rhetoric and report to its readers why PERA remains Colorado’s best investment.

Dave Dillman

Durango