DENVER (AP) — Colorado’s public employee pension fund netted a 7.3 percent return on its investments last year, according to its annual report.

But while the Public Employees’ Retirement Association earned $3 billion in 2016, its unfunded liabilities grew to more than $32 billion.

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The Denver Post reports Saturday that those obligations are up 20 percent after PERA lowered investment return expectations in November.

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Lawmakers are expected to examine the fund’s growing liabilities in next year’s legislative session.

PERA provides retirement benefits to 568,000 current and former public employees.

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