The Durango Herald misled its readership on retirement security by printing State Treasurer Walker Stapleton’s ill-informed comments (Herald, June 22) about the Colorado Public Employees Retirement Association.

Colorado PERA remains Colorado’s best investment by delivering a dignified and stable earned pension to 92,000 Colorado resident retirees.

In Southwest Colorado, 1,842 PERA retirees sustain more than 400 Colorado jobs. With fluctuations in the tourism industry, PERA retirees provide a stable floor of demand for many business owners.

These retirees shopped for necessities during the economic fallout of the 2015 Animas River tragedy, supporting local businesses as tourists fled.

Indeed, PERA’s 2015 returns were below the assumed average rate of return of 7.5 percent.

However, the pension takes advantage of long-term trends in investment markets, a significant advantage PERA has over 401K-style retirement programs. PERA’s 35-year average return exceeds the assumed average.

Stapleton revealed his ignorance when he feigned concern about the “22-year-old that wants to work for the city of Durango” lacking retirement security.

The city of Durango is not affiliated with Colorado PERA, though the Durango Fire Protection District is. (Thank you for your ongoing valiant service!)

If Stapleton does not even know who is in the plan he is charged to oversee, why should we value his judgment of the plan’s feasibility?

In July 2015, the independent, third-party actuarial firm of Gabriel, Roeder, Smith & Co. released a report under the oversight of the Office of the State Auditor. GRS reported that PERA’s plan is the most efficient use of dollars of any plan, public or private, available in the market today.

They also reported PERA replaces more income for any career length than any other style of plan. Stapleton’s 23-year-old mythical “La Plata County” teacher would actually benefit from PERA rather than the risky privatization schemes Stapleton advocates.

It’s clear Stapleton and the Herald have two things in common that are dangerous for Colorado: willful ignorance and a political agenda.

I urge the Herald to belatedly rescind its endorsement of Stapleton and re-examine the valuable resource benefiting all Coloradoans, Colorado PERA.

Dave Dillman

Durango