COLORADO SPRINGS, Colo. (AP) — A privately hired judge has sided with the Colorado Public Employees' Retirement Association in a dispute with Colorado Springs over compensation after 4,000 city hospital employees left the state pension system.
The Colorado Springs Gazette reports (http://preview.tinyurl.com/pttrru5 ) the judge said Tuesday that Colorado Springs should pay PERA $190 million plus interest because the Memorial Hospital workers left PERA when the city leased the hospital to University of Colorado Health in 2012.
The university agency gave the city $259 million as part of the lease, including $190 million for a potential judgment in the PERA dispute. The money is in escrow.
City officials had no immediate response. They can appeal.
PERA says the decision means the city and hospital cannot shift their obligations to other government agencies and public employees.
Information from: The Gazette, http://www.gazette.com