More info re: Colorado COLA cut and class action suit challenging it....

From John Curry, March 2, 2010

http://www.indenvertimes.com/lawsuit-challenges-pera-retiree-cuts/

Lawsuit challenges PERA retiree cuts

By Todd Engdahl
INDenverTimes.com, February 26, 2010

A class-action lawsuit seeking to overturn the Public Employees Retirement Association solvency plan was filed against the state in Denver District Court Friday, just three days after Gov. Bill Ritter signed Senate Bill 10-001 into law.

At issue is the provision that cuts retirees’ annual benefit increases from 3.5 percent to 2 percent starting in 2011. (For this year there will be no increase. Future increases could drop below 2 percent under certain conditions.)