Miller HudsonMiller HudsonJune 6, 20186min531

Now that the governor and legislature have guaranteed regular checks will be forwarded to stave off any imminent collapse of Colorado’s Public Employees Retirement Association (PERA), perhaps it is time to examine another unfunded liability that lurks in the state budget. As ominous as the term sounds, an unfunded liability is merely a debt – a promise to pay. In our personal lives we live with many such obligations in the form of mortgage payments, car loans and credit card balances. Banks trust (some of us more than others) that we will hold on to our jobs and punctually manage these debts.