reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 30.5 - FIRE - POLICE - OLD HIRE PENSION PLANS (§§ 31-30.5-101 — 31-30.5-803) › Part 5 - INVESTMENTS - INSURANCE (§§ 31-30.5-501 — 31-30.5-503) › Section 31-30.5-501 - Old hire pension fund - investments

It is lawful for the board of trustees of the old hire firefighters' pension fund and the board of trustees of the old hire police officers' pension fund in any municipality or district in this state to invest such respective pension funds, or any part thereof, in the name of the treasurer of such municipality or in the name of a custodian or custodians appointed by the board, as provided for in this section, in interest-bearing obligations of the United States, in interest-bearing bonds of the state of Colorado, or in general obligation bonds of cities, whether organized under general law or article XX of the state constitution, or in any depository enumerated in section
24-75-603
, C.R.S., and secured as provided in articles
10.5
and
47
of title
11
, C.R.S. The board of trustees, by written resolution, may appoint one or more persons to act as custodians, in addition to the treasurer, to deposit or cause to be deposited all or part of such funds in any state or national bank or any state or federally chartered savings and loan association in Colorado. Such persons shall give surety bonds in such amounts and form and for such purposes as the board requires. All such securities and evidences of investment shall be deposited with the treasurer of such municipality.
L. 96: Entire article added with relocations, p. 878, § 1, effective May 23.
This section was formerly numbered as § 31-30-701.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 30.5 - FIRE - POLICE - OLD HIRE PENSION PLANS (§§ 31-30.5-101 — 31-30.5-803) › Part 5 - INVESTMENTS - INSURANCE (§§ 31-30.5-501 — 31-30.5-503) › Section 31-30.5-502 - Insurance - investment by banks and trust companies

(1)
Notwithstanding any restrictions on investments of old hire police officers' or firefighters' pension funds contained in any laws of this state, it is lawful for the board of trustees of any such pension fund, with the consent in writing of a majority of the active old hire members of the police department or fire department for the benefit of which the pension fund is maintained, to:
(a)
Insure the old hire members of any such police department or fire department by the purchase of policies of individual, group, or blanket life, endowment, disability, or annuity insurance, or variable annuity insurance in and from companies authorized to do business in Colorado and to expend any portion of such pension fund for the purpose of paying the premiums on any such insurance policies; or
(b)
Establish a noninsured trust pension plan with a bank or trust company authorized to exercise trust powers in this state as trustee, invested by the trustee pursuant to the provisions of part 3 of article
1
of title
15
, C.R.S.; but the trustee shall at all times hold fixed income obligations having a book value or cost of not less than sixty percent of the total contributions made to the trust less the amounts paid out.
(2)
If any old hire member of such police department, fire department, or association is receiving any pension, benefit, or award made prior to April 9, 1965, by such board of trustees, no such part of said fund shall be expended for purchasing said insurance as will impair the ability of said fund to meet the requirements of such pensions, benefits, and awards. The board of trustees of the old hire pension fund shall be the beneficiary of any such insurance policies, and the proceeds thereof shall be paid to the board of trustees as an addition to the old hire pension fund.
L. 96 Entire article added with relocations, p. 878, § 1, effective May 23.
This section was formerly numbered as § 31-30-702.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 30.5 - FIRE - POLICE - OLD HIRE PENSION PLANS (§§ 31-30.5-101 — 31-30.5-803) › Part 5 - INVESTMENTS - INSURANCE (§§ 31-30.5-501 — 31-30.5-503) › Section 31-30.5-503 - Alternative investment authority

Notwithstanding any other provision of this part 5, moneys of old hire pension plans that are not affiliated with the fire and police pension association under section
31-31-701
may be managed and invested by the trustees of such plans pursuant to the standard and other provisions for trustees set forth in the "Colorado Uniform Prudent Investor Act", article
1.1
of title
15
, C.R.S. Such investments shall be audited at least biennially.
L. 96: Entire article added with relocations, p. 879, § 1, effective May 23. L. 97: Entire section amended, p. 10, § 1, effective March 13. L. 2004: Entire section amended, p. 1203, § 73, effective August 4.
This section was formerly numbered as § 31-30-1012(8)(a).
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 30.5 - FIRE - POLICE - OLD HIRE PENSION PLANS (§§ 31-30.5-101 — 31-30.5-803) › Part 6 - RETIREMENT BENEFITS (§§ 31-30.5-601 — 31-30.5-604) › Section 31-30.5-601 - Police officers' old hire pension plans - municipalities under one hundred thousand in population

(1)
In municipalities having a population of less than one hundred thousand and making contributions from general funds into the police officers' old hire pension fund of their respective municipalities, any old hire member of such police department who has reached the age of fifty-five years and who has served for a period of twenty years in any such department in the state of Colorado or who in the alternative has completed twenty-five years in any such department in the state of Colorado, regardless of age, is entitled to a monthly pension equal to one-half the amount of the average salary the member received as a member of said department for one year before the time of granting the member's application. Such payment shall be made regardless of income or earnings that the said retired old hire member receives from any source.
(2)
In municipalities having a population of less than one hundred thousand and not making contributions into their respective police officers' old hire pension fund, any old hire member of the police department who has reached the age of sixty years and who has served for a period of twenty years in any such department in the state of Colorado is entitled to a monthly pension equal to one-half of the amount of the average salary the member received as a member of said department for one year before the time of granting the member's application. If, thereafter, such member accepts a salaried position paying a salary of sixty dollars or more per month, the payment of the member's pension shall be suspended during the period the member holds such position.
L. 96: Entire article added with relocations, p. 879, § 1, effective May 23.
Provisions of this section were formerly numbered as §§ 31-30-314 and 31-30-322.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 30.5 - FIRE - POLICE - OLD HIRE PENSION PLANS (§§ 31-30.5-101 — 31-30.5-803) › Part 6 - RETIREMENT BENEFITS (§§ 31-30.5-601 — 31-30.5-604) › Section 31-30.5-602 - Firefighters' old hire pension plans - municipalities and districts under one hundred thousand in population

In municipalities, fire protection districts, and county improvement districts having a population of less than one hundred thousand, any old hire member who has reached the age of fifty years and who has served for a period of twenty years of active service in any such department in this state is entitled to a monthly pension equal to one-half the amount of the member's monthly salary as of the date of the member's retirement plus, if the governing body of the municipality, the board of directors of the fire protection district, or the board of the county improvement district authorizes such additional benefits, one-half of any increase in salary and longevity or additional pay based on length of service granted during the period of the member's retirement to the rank occupied by the member in said department. Any old hire member of a paid fire department of a municipality, fire protection district, or county improvement district, who has served prior time in a volunteer fire department in any municipality, fire protection district, or county improvement district in this state, in the event the member becomes a paid member, may be credited service time at their discretion, at the rate of one year of paid service for each four complete years of volunteer time; except that they shall not receive both a pension under part 11 of article
30
of this title and a service credit under this section.
L. 96: Entire article added with relocations, p. 880, § 1, effective May 23. L. 2005: Entire section amended, p. 776, § 63, effective June 1.
This section was formerly numbered as § 31-30-408.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 30.5 - FIRE - POLICE - OLD HIRE PENSION PLANS (§§ 31-30.5-101 — 31-30.5-803) › Part 6 - RETIREMENT BENEFITS (§§ 31-30.5-601 — 31-30.5-604) › Section 31-30.5-603 - Police officers' old hire pension plans - municipalities of at least one hundred thousand in population

In municipalities having a population of at least one hundred thousand, any old hire member of the police department who has attained the age of sixty years is entitled to a monthly pension equal to one-half the amount of the average salary said member received as a member of said department for one year before retirement. Any old hire member of the police department of such municipality having served twenty-five years or more in such police department, other than an old hire member who has arrived at the age of sixty years and retired, is entitled to a monthly pension equal to one-half the amount of the average salary said member received as a member of said department for one year before the time of retirement.
L. 96: Entire article added with relocations, p. 880, § 1, effective May 23.
This section was formerly numbered as § 31-30-610.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 30.5 - FIRE - POLICE - OLD HIRE PENSION PLANS (§§ 31-30.5-101 — 31-30.5-803) › Part 6 - RETIREMENT BENEFITS (§§ 31-30.5-601 — 31-30.5-604) › Section 31-30.5-604 - Firefighters' old hire pension plans - municipalities of at least one hundred thousand in population

(1)
In municipalities having a population of at least one hundred thousand, any old hire member of the fire department who has served at least twenty-five years of active duty and has attained the age of fifty years shall be retired within thirty days after making application for retirement, except during periods of national emergency, and such person shall be paid a monthly pension equal to one-half the amount of the monthly salary said person received as a member of said department as of the date of application for retirement. For so long as the old hire member is in retirement, there shall be added to the amount of the member's pension one-half of any increase in salary and longevity or additional pay based on length of service granted to the rank formerly occupied by the member in the department.
(2)
(a)
When, for any reason, the rank or grade within a fire department is abolished or ceases to exist and a retired old hire member of such department, on or after April 30, 1963, is in receipt of a pension or annuity from the fund by reason of retirement in such classification, grade, or rank, such member shall receive the member's regular pension payment for the grade or rank occupied at the time of the member's retirement. In addition, such member of a fire department shall receive additional benefits as follows: The fraction which such member's regular pension payment for the grade or rank occupied at the time of the member's retirement bears to the regular pension payment for the next higher rank at such time shall be computed; and such member shall receive one-half of any increase in salary and longevity pay or additional pay based on length of service granted to the next higher rank or grade in such department multiplied by the fraction as above computed; but if the next higher and next lower ranks or grades of the department receive equal money increases, such member shall receive one-half of any increase without multiplication of the fraction above computed. An old hire member of such department who, on July 1, 1969, is in receipt of a pension or annuity from the fund, by reason of retirement in a rank or grade which has been abolished or has ceased to exist, shall have the member's benefits as above described recomputed, and any additional moneys to which the member is entitled shall be paid to the member as if this provision were in effect at the date of the member's application for retirement.
(b)
The provisions of this subsection (2) shall apply alike to all those who retired under this section and to those who retire under the provisions of section
31-30.5-705
.
L. 96: Entire article added with relocations, p. 881, § 1, effective May 23.
This section was formerly numbered as § 31-30-511.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 30.5 - FIRE - POLICE - OLD HIRE PENSION PLANS (§§ 31-30.5-101 — 31-30.5-803) › Part 7 - DISABILITY AND SURVIVOR BENEFITS (§§ 31-30.5-701 — 31-30.5-705) › Section 31-30.5-701 - Coverage

The provisions of this part 7 governing the benefits payable in the event of the death or disability of an active old hire member shall apply with respect to any such member who dies or becomes disabled prior to January 1, 1980. The provisions of this part 7 governing the benefits payable in the event of the death of a retired old hire member shall apply regardless of the date of death.
L. 96: Entire article added with relocations, p. 882, § 1, effective May 23.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 30.5 - FIRE - POLICE - OLD HIRE PENSION PLANS (§§ 31-30.5-101 — 31-30.5-803) › Part 7 - DISABILITY AND SURVIVOR BENEFITS (§§ 31-30.5-701 — 31-30.5-705) › Section 31-30.5-704 - Police officers' old hire pension plans - municipalities of at least one hundred thousand in population

(1)
If any old hire member of the police department in a municipality having a population of at least one hundred thousand, while in the performance of the member's duty, becomes temporarily totally disabled, physically or mentally, for service by reason of service in such department, the board shall order the payment to such disabled member, monthly during such disability but not to exceed one year, from the old hire pension fund, a sum equal to the monthly compensation allowed such member as salary at the date of the member's disability if such member is paid no salary as such member. If any old hire member of the police department, while in the performance of the member's duty, becomes mentally or physically permanently disabled by reason of service in such department so as to render necessary the member's retirement from service in such department, the board shall retire such disabled member from service in such department. No such retirement on account of disability shall occur unless said member has contracted said disability while in the service of said police department.
(2)
Upon retirement the board shall order the payment to such disabled member from the old hire pension fund a sum equal to one-half the monthly compensation allowed to such the member as salary at the date of the member's retirement. If any old hire member of the police department in a municipality having a population of at least one hundred thousand, while in the performance of the member's duty, is killed, dies as a result of an injury received in the line of duty or of any disease contracted by reason of the member's occupation, dies from any cause whatever as the result of the member's services in said department, or dies while in the service or on the retired list from any cause and leaves a surviving spouse or a dependent child under sixteen years surviving or, if unmarried, leaves a dependent parent surviving, the board shall direct the payment from the fund, monthly, to such surviving spouse, while unmarried, of thirty dollars, and for each child, while unmarried, until the child reaches the age of sixteen years, six dollars, and to the dependent parent, if such member was unmarried, thirty dollars. The pension to the dependent parent or both shall be paid as follows: If the father is dead, the mother shall receive the entire thirty dollars, and if the mother is dead, the father shall receive the entire thirty dollars, and if both are living, each shall receive fifteen dollars.
L. 96: Entire article added with relocations, p. 886, § 1, effective May 23.
This section was formerly numbered as § 31-30-608.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 30.5 - FIRE - POLICE - OLD HIRE PENSION PLANS (§§ 31-30.5-101 — 31-30.5-803) › Part 8 - EXEMPT PLANS (§§ 31-30.5-801 — 31-30.5-803) › Section 31-30.5-802 - Exempt money purchase plan option

(1)
Any employer that has not elected to affiliate with the fire and police pension association relating to an old hire plan established pursuant to this article may offer to the active old hire members of such plan the option of converting to a money purchase plan.
(2)
Such option shall be available on an individual basis such that any member desiring to remain in the current defined benefit plan may do so.
(3)
The money purchase plan offered may be a new plan established by the employer or an existing plan maintained for the benefit of other members employed in the same department.
(4)
Any such money purchase plan shall be exempt from all provisions of parts 3 to 7 of this article.
(5)
The option may be offered only if approved by at least sixty-five percent of all active old hire members. If approved, a deadline shall be set for electing between the current plan and the money purchase plan. Prior to said deadline, the employer shall provide to each active old hire member a disclosure statement describing the differences between the current plan and the money purchase plan and a statement as to the minimum beginning account balance for such employee in the event of conversion to a money purchase plan.
(6)
If any active old hire member elects to remain in the current plan, the employer shall continue to fund such plan on an actuarially sound basis with any unfunded liability being amortized over a period not to exceed twenty years after January 1, 1989.
(7)
Within ninety days after the election is made by each active old hire member, the employer shall make the final determination as to whether to adopt such option and shall be under no obligation to do so. In the event that the employer determines that the option will not be adopted at that time, the employer may reoffer the option at a later date in accordance with the provisions contained in this section.
(8)
No such option may be adopted which, in its application, would adversely affect the pension benefits of retired old hire members.
(9)
Nothing in this section shall be construed to prohibit an election by an employer to affiliate its local plan with the fire and police pension association after said employer has adopted a money purchase plan option pursuant to this section. Any such affiliation shall be governed by the provisions of section
31-31-701
.
L. 96: Entire article added with relocations, p. 890, § 1, effective May 23.
This section was formerly numbered as § 31-30-1003.3.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 30.5 - FIRE - POLICE - OLD HIRE PENSION PLANS (§§ 31-30.5-101 — 31-30.5-803) › Part 8 - EXEMPT PLANS (§§ 31-30.5-801 — 31-30.5-803) › Section 31-30.5-803 - Investment authority

(1)
Except as provided in subsection (2) of this section, moneys of exempt alternative plans that are not affiliated with the fire and police pension association under section
31-31-706
may be managed and invested by the trustees of such plans pursuant to the standard and other provisions for trustees set forth in the "Colorado Uniform Prudent Investor Act", article
1.1
of title
15
, C.R.S. Such investments shall be audited at least biennially.
(2)
(a)
(Deleted by amendment, L. 97, p. 10, § 2, effective March 13, 1997.)
(b)
The trustees of an exempt alternative plan may allow a participant to exercise control of the investment of the participant's accrued benefit under the plan, subject to the following requirements:
(I)
The trustees shall select at least three investment alternatives, each of which is diversified in itself, that allow the participant a broad range of investments and a meaningful choice between risk and return in the investment of the participant's accrued benefit;
(II)
The trustees shall allow the participant to change investments at least once each calendar quarter; and
(III)
The trustees shall provide the participant with information describing the investment alternatives and the nature, investment performance, fees, and expenses of the investment alternatives and other information to enable a participant to make informed investment decisions.
(c)
Neither the state nor local governments shall be held responsible to pay for any or all financial losses experienced by participants of the exempt alternative plan; except that nothing in this section relieves a local government's responsibility as a trustee to the plan.
L. 96: Entire article added with relocations, p. 892, § 1, effective May 23. L. 97: Entire section amended, p. 10, § 2, effective March 13. L. 2004: (1) amended, p. 1204, § 74, effective August 4. L. 2010: (1) amended, (SB 10 -024), ch. 20, p. 90, § 3, effective August 11.
This section was formerly numbered as § 31-30-1012(8).
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 1 - GENERAL PROVISIONS (§§ 31-31-101 — 31-31-102) › Section 31-31-101 - Legislative declaration

The general assembly hereby declares that the establishment of police officers' and firefighters' pension plans in this state is a matter of statewide concern that affects the public safety and general welfare, that the ability of pension funds to pay earned benefits to present and future members is a necessary corollary to the establishment of pension plans, and that statewide pension plans establishing pension benefits that can be fully funded with local moneys will permit the continuation of pension plans for police officers and firefighters in this state. In addition, the general assembly declares that any pension plan must be actuarially sound in order to assure the security of the pension system and that this article is enacted to provide for the stability and security of police officers' and firefighters' pension plans in this state. The general assembly further declares that state moneys provided to municipalities, fire protection districts, and county improvement districts do not constitute a continuing obligation of the state to participate in the ongoing normal costs of pension plan benefits, except for state funding of death and disability benefits as specified in this article, but are provided in recognition that the local governments are currently burdened with financial obligations relating to pensions in excess of their present financial capacities. It is the intent of the general assembly in providing state moneys to assist the local governments that state participation decrease annually, terminating at the earliest possible date.
L. 96: Entire article added with relocations, p. 893, § 1, effective May 23.
This section was formerly numbered as § 31-30-1001.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 2 - ADMINISTRATION (§§ 31-31-201 — 31-31-205) › Section 31-31-203 - Fund not subject to levy

Except for assignments for child support debt pursuant to section
14-14-104
, child support arrearages as requested as part of an enforcement action under article
5
of title
14
, or child support arrearages that are the subject of enforcement services provided under section
26-13-106
, for income assignments for child support purposes pursuant to section
14-14-111.5
, for writs of garnishment that are the result of a judgment taken for arrearages for child support or for child support debt, for payments made in compliance with a properly executed court order approving a written agreement entered into pursuant to section
14-10-113 (6)
, and for restitution that is required to be paid for the theft, embezzlement, misappropriation, or wrongful conversion of public property or in the event of a judgment for a willful and intentional violation of fiduciary duties pursuant to this article 31 where the offender or a related party received direct financial gain, or as otherwise required under federal law, no portion of the funds created pursuant to this article 31 or article
31.5
of this title 31 before or after their order for distribution by the board to the persons entitled thereto, shall be held, seized, taken, subjected to, detained, or levied on by virtue of any attachment, execution, injunction, writ, interlocutory or other order or decree, or process or proceeding whatsoever issued out of or by any court of this state for the payment or satisfaction, in whole or in part, of any debt, damage, claim, demand, or judgment against the fire and police pension association or employers that belong to such association or the beneficiary of such funds. The funds shall be held and distributed for the purpose of this article 31 and for no other purpose whatsoever.
Amended by 2022 Ch. 61, § 3, eff. 1/1/2023.
L. 96: Entire article added with relocations, p. 898, § 1, effective May 23; entire section amended, p. 627, § 46, effective July 1; entire section amended, p. 1464, § 14, effective 1/1/1997. L. 2005: Entire section amended, p. 76, § 13, effective August 8. L. 2006: Entire section amended, p. 183, § 9, effective March 31. L. 2010: Entire section amended, (SB 10 -024), ch. 20, p. 90, § 4, effective August 11.
Amendments to this section by Senate Bill 96-002 and Senate Bill 96-204 were harmonized.
2022 Ch. 61, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 2 - ADMINISTRATION (§§ 31-31-201 — 31-31-205) › Section 31-31-205 - Confidentiality of members' protected personal information

All information contained in records of active members, retired members, former members, inactive members, designated beneficiaries, alternate payees, benefit recipients, and their dependents of any plan administered by the association or of any locally administered and financed alternative plan shall be maintained as confidential. The association or local plan administrator may provide such information as is necessary to a third-party service provider pursuant to article
73
of title
24
.
Added by 2022 Ch. 61,§5, eff. 8/10/2022.
2022 Ch. 61, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 3 - FIRE AND POLICE MEMBERS' BENEFIT FUND (§§ 31-31-301 — 31-31-303) › Section 31-31-301 - Investment funds - creation

(1)
(a)
There is hereby created the fire and police members' benefit investment fund, which shall consist of the portion of the assets that are designated for investment by the board of the following plans:
(I)
The defined benefit system established in part 2 of this article;
(II)
Old hire police and fire pension plans established in article
30.5
of this title, which are affiliated with the association pursuant to part 7 of this article;
(III)
Exempt plans established pursuant to part 8 of article
30.5
of this title, which are affiliated with the association pursuant to part 7 of this article;
(IV)
Volunteer firefighter pension plans, which are affiliated with the association pursuant to part 7 of this article; and
(V)
The statewide death and disability plan established in part 8 of this article.
(b)
The board shall keep an accurate account of the assets of each plan deposited in the investment fund and shall disburse moneys in accordance with the provisions of this article and the applicable plan document.
(2) and (3)
(Deleted by amendment, L. 2006, p. 186, § 11, effective March 31, 2006.)
(4)
(a)
There is hereby created the fire and police members' self-directed investment fund, which shall consist of the portion of the assets that are designated for self-direction by the member of the following plans:
(I)
The defined benefit system established in part 2 of this article;
(II)
Old hire police and fire pension plans established in article
30.5
of this title, which are affiliated with the association pursuant to part 7 of this article;
(III)
The fire and police members' statewide money purchase plan established in part 5 of this article;
(IV)
Repealed.
(V)
The fire and police members' deferred compensation plans established in part 9 of this article; and
(VI)
The affiliated exempt plans which are affiliated with the association pursuant to part 7 of this article.
(b)
The board shall keep an accurate account of the assets of each plan deposited in the investment fund and shall disburse moneys in accordance with the provisions of this article and the applicable plan document.
L. 96: Entire article added with relocations, p. 899, § 1, effective May 23. L. 2000: (3)(d) repealed, p. 76, § 2, effective August 2. L. 2003: (1)(a)(V) added, p. 744, § 1, effective August 6. L. 2006: Entire section amended, p. 186, § 11, effective March 31. L. 2010: (4)(a)(IV) repealed, (SB 10 -024), ch. 20, p. 90, § 5, effective August 11.
Provisions of this section were formerly numbered as §§ 31-30-1012(1)(a) and 31-30-1012.5.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 4 - STATEWIDE DEFINED BENEFIT PLAN (§§ 31-31-401 — 31-31-412) › Section 31-31-402 - [Repealed]

Repealed by 2022 Ch. 61, § 21, eff. 1/1/2023.
Amended by 2020 Ch. 105, § 2, eff. 9/14/2020.
Amended by 2015 Ch. 9, § 2, eff. 8/5/2015.
L. 96: Entire article added with relocations, p. 903, § 1, effective May 23. L. 2000: (1) amended, p. 1865, § 89, effective August 2; (4) amended, p. 45, § 1, effective August 2. L. 2006: (1), (2), and (3) amended and (5) added, p. 189, § 14, effective March 31. L. 2007: (1), (2), and (4) amended, p. 273, § 1, effective August 3. L. 2010: (1) and (3) amended, (SB 10 -022), ch. 82, p. 82, § 1, effective August 11. L. 2015: (4) amended, (SB 15-027), ch. 9, p. 20, § 2, effective August 5. L. 2020: (1), (2), and (3) amended, (HB 20-1044), ch. 405, p. 405, § 2, effective September 14.
This section was formerly numbered as § 31-30-1013.
For the federal "Internal Revenue Code of 1986", see title 26 of the United States Code.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 4 - STATEWIDE DEFINED BENEFIT PLAN (§§ 31-31-401 — 31-31-412) › Section 31-31-403 - [Repealed]

Repealed by 2022 Ch. 61, § 21, eff. 1/1/2023.
Amended by 2020 Ch. 105, § 3, eff. 9/14/2020.
L. 96: Entire article added with relocations, p. 905, § 1, effective May 23. L. 2001: (1), (4), (5)(b)(II), (5)(b)(III), and (5)(c) amended and (8) added, p. 417, § 3, effective June 1. L. 2003: (2)(a)(II) amended, p. 742, § 2, effective August 6. L. 2006: (2)(a)(II) and (2)(b) amended, p. 191, § 15, effective March 31. L. 2007: (5)(c) and (5)(d) amended, p. 50, § 1, effective March 14. L. 2010: (1)(b) and IP(2)(a) amended and (2)(c) added, (SB 10 -022), ch. 83, p. 83, § 2, effective August 11. L. 2020: (1), (2)(a), and (4) amended, (HB 20-1044), ch. 406, p. 406, § 3, effective September 14.
This section was formerly numbered as § 31-30-1006.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 4 - STATEWIDE DEFINED BENEFIT PLAN (§§ 31-31-401 — 31-31-412) › Section 31-31-404 - [Repealed]

Repealed by 2022 Ch. 61, § 21, eff. 1/1/2023.
Amended by 2020 Ch. 105, § 4, eff. 9/14/2020.
L. 96: Entire article added with relocations, p. 907, § 1, effective May 23. L. 99: (1)(b) amended, p. 36, § 2, effective August 4. L. 2001: (2) amended and (3) added, p. 418, § 4, effective June 1. L. 2003: (2)(a) amended, p. 742, § 3, effective August 6. L. 2010: (2)(b) amended, (SB 10 -022), ch. 84, p. 84, § 3, effective August 11. L. 2020: (2) amended, (HB 20-1044), ch. 408, p. 408, § 4, effective September 14.
This section was formerly numbered as § 31-30-1011.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 4 - STATEWIDE DEFINED BENEFIT PLAN (§§ 31-31-401 — 31-31-412) › Section 31-31-405 - [Repealed]

Repealed by 2022 Ch. 61, § 21, eff. 1/1/2023.
Amended by 2020 Ch. 105, § 5, eff. 9/14/2020.
L. 96: Entire article added with relocations, p. 909, § 1, effective May 23. L. 2000: (4) amended, p. 76, § 1, effective August 2. L. 2001: (3) amended, p. 419, § 5, effective June 1. L. 2006: (1) amended, p. 101, § 1, effective March 27; entire section amended, p. 191, § 16, effective March 31. L. 2020: (2), (3), (5), and (6) amended, (HB 20-1044), ch. 408, p. 408, § 5, effective September 14.
(1) This section was formerly numbered as § 31-30-1017.
(2) Amendments to subsection (1) by House Bill 06-1068 were relocated to subsection (3) due to its harmonization with amendments made to this section by House Bill 06-1059.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 4 - STATEWIDE DEFINED BENEFIT PLAN (§§ 31-31-401 — 31-31-412) › Section 31-31-406 - [Repealed]

Repealed by 2022 Ch. 61, § 21, eff. 1/1/2023.
Amended by 2020 Ch. 105, § 6, eff. 9/14/2020.
L. 96: Entire article added with relocations, p. 909, § 1, effective May 23; (2) amended, p. 1342, § 7, effective June 1. L. 2001: (2)(a) and (4) amended and (7) added, p. 419, § 6, effective June 1. L. 2003: (1), (6), and (7)(b) amended, p. 742, § 4, effective August 6. L. 2020: (4) and (7) amended and (6) repealed, (HB 20-1044), ch. 409, p. 409, § 6, effective September 14.
This section was formerly numbered as § 31-30-1018.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 4 - STATEWIDE DEFINED BENEFIT PLAN (§§ 31-31-401 — 31-31-412) › Section 31-31-407 - [Repealed]

Repealed by 2022 Ch. 61, § 21, eff. 1/1/2023.
L. 96: Entire article added with relocations, p. 910, § 1, effective May 23; (2) amended, p. 1340, § 3, effective June 1. L. 2002: (1), (2), and (4) amended, p. 173, § 2, effective October 1. L. 2008: (1), (2), and (3) amended and (5) added, p. 13, § 1, effective August 5.
This section was formerly numbered as § 31-30-1010.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 4 - STATEWIDE DEFINED BENEFIT PLAN (§§ 31-31-401 — 31-31-412) › Section 31-31-408 - [Repealed]

Repealed by 2022 Ch. 61, § 21, eff. 1/1/2023.
Amended by 2020 Ch. 105, § 7, eff. 9/14/2020.
Amended by 2013 Ch. 273, § 1, eff. 8/7/2013.
L. 96: Entire article added with relocations, p. 911, § 1, effective May 23. L. 2010: (1)(b), (3), (4), and (5) amended and (1.5) added, (SB 10 -022), ch. 84, p. 84, § 4, effective August 11. L. 2012: IP(1) amended, (HB 12 -1031), ch. 236, p. 236, § 2, effective August 8. L. 2013: (1)(d), (1)(e), (1.5)(a)(III), and (1.5)(a)(IV) amended, (SB 13-240), ch. 1434, p. 1434, § 1, effective August 7. L. 2020: (1.6) added, (HB 20-1044), ch. 410, p. 410, § 7, effective September 14.
This section was formerly numbered as § 31-30-1006.5.
For the federal "Internal Revenue Code of 1986", see title 26 of the United States Code.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 4 - STATEWIDE DEFINED BENEFIT PLAN (§§ 31-31-401 — 31-31-412) › Section 31-31-409 - [Repealed]

L. 96: Entire article added with relocations, p. 912, § 1, effective May 23. L. 98: (2)(f), (2)(i), and (2)(j) amended and (2)(k) added, p. 25, § 4, effective March 16. L. 2006: Entire section repealed, p. 192, § 17, effective March 31.
This section was formerly numbered as § 31-30-1019.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 4 - STATEWIDE DEFINED BENEFIT PLAN (§§ 31-31-401 — 31-31-412) › Section 31-31-410 - [Repealed]

Repealed by 2022 Ch. 61, § 21, eff. 1/1/2023.
Amended by 2021 Ch. 42, § 14, eff. 11/11/2021.
Amended by 2015 Ch. 7, § 1, eff. 8/5/2015.
L. 99: Entire section added, p. 35, § 1, effective 1/1/2000. L. 2002: IP(1), (1)(c), and (1)(d) amended and (2.5) added, p. 53, § 1, effective 1/1/2003. L. 2015: Entire section amended, (SB 15 -025), ch. 15, p. 15, § 1, effective August 5. L. 2021: (2)(b) amended, (SB 21 -026), ch. 177, p. 177, § 14, effective November 11.
2021 Ch. 42, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
For the short title ("Restoration of Honor Act") in SB 21-026, see section 1 of chapter 42, Session Laws of Colorado 2021.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 4 - STATEWIDE DEFINED BENEFIT PLAN (§§ 31-31-401 — 31-31-412) › Section 31-31-411 - [Repealed]

Repealed by 2022 Ch. 61, § 21, eff. 1/1/2023.
L. 2010: Entire section added, (SB 10 -023), ch. 19, p. 87, § 1, effective August 11.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 4 - STATEWIDE DEFINED BENEFIT PLAN (§§ 31-31-401 — 31-31-412) › Section 31-31-412 - Merger into the statewide retirement plan

(1)
(a)
On or about January 1, 2023, the assets and liabilities of the statewide defined benefit plan shall merge into the statewide retirement plan created pursuant to article
31.5
of this title 31.
(b)
Statewide defined benefit assets held in the actuarial account pursuant to this part 4 shall be transferred to the lifetime benefits account created pursuant to part 1 of article
31.5
of this title 31.
(c)
Stabilization reserve account assets held in separate retirement accounts pursuant to this part 4 shall be transferred to the money purchase account created pursuant to part 1 of article
31.5
of this title 31.
(d)
Deferred retirement option plan account assets of the statewide defined benefit plan shall be transferred to the money purchase account created pursuant to part 1 of article
31.5
of this title 31.
(2)
All remaining defined benefits and other obligations of the statewide defined benefit plan payable on and after January 1, 2023, shall be paid from the lifetime benefits account of the statewide retirement plan; except that the remaining obligations held in the separate retirement accounts of the statewide defined benefit plan shall be transferred to and be payable from the money purchase component of the statewide retirement plan. Said obligations shall be paid pursuant to the statutory provisions and rules adopted by the board regarding the statewide retirement plan.
(3)
Participation by all members, including retirees, in the statewide defined benefit plan shall terminate upon the merger of the plans and said members shall begin participation in the defined benefit component of the statewide retirement plan. Accumulated service credit and length of service shall be aggregated between the plans.
(4)
Immediately after such transfer, the affected member's accrued benefits in the statewide retirement plan shall be equal to the member's accrued benefits immediately before the transfer.
(5)
The merger is intended to be consistent with the requirements under section 414 (l) of the "Internal Revenue Code of 1986", as amended, and shall not be considered a plan termination and shall not result in a distributable event.
Added by 2022 Ch. 61, § 7, eff. 8/10/2022.
2022 Ch. 61, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 6 - WITHDRAWN LOCAL ALTERNATIVE PENSION PLAN (§§ 31-31-601 — 31-31-602) › Section 31-31-601 - [Repealed]

Repealed by 2022 Ch. 61, § 21, eff. 1/1/2023.
Amended by 2017 Ch. 23, § 3, eff. 3/8/2017.
L. 96: Entire article added with relocations, p. 920, § 1, effective May 23. L. 98: (1)(b)(II) amended, p. 62, § 3, effective 2/8/1999. L. 2017: (1)(c) amended, (SB 17-020), ch. 23, p. 70, § 3, effective March 8.
This section was formerly numbered as § 31-30-1003(2)(b).
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 6 - WITHDRAWN LOCAL ALTERNATIVE PENSION PLAN (§§ 31-31-601 — 31-31-602) › Section 31-31-602 - Withdrawn local alternative pension plans - investment authority

(1)
Except as provided in subsection (2) of this section, any locally administered and financed alternative pension plan fund established pursuant to this part 6 may be managed and invested by the trustees of such plan pursuant to the standard and other provisions for trustees set forth in the "Colorado Uniform Prudent Investor Act", article
1.1
of title
15
, C.R.S. Such investments shall be audited at least biennially.
(2)
The trustees of a locally administered and financed alternative plan may allow a participant to exercise control of the investment of the participant's accrued benefit under the plan, subject to the following requirements:
(a)
The trustees shall select at least three investment alternatives, each of which is diversified in itself, that allow the participant a broad range of investments and a meaningful choice between risk and return in the investment of the participant's accrued benefit;
(b)
The trustees shall allow the participant to change investments at least once each calendar quarter; and
(c)
The trustees shall provide the participant with information describing the investment alternatives and the nature, investment performance, fees, and expenses of the investment alternatives and other information to enable a participant to make informed investment decisions.
L. 96: Entire article added with relocations, p. 921, § 1, effective May 23. L. 97: Entire section amended, p. 14, § 5, effective March 13. L. 2004: (1) amended, p. 1204, § 76, effective August 4.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 7 - AFFILIATION OF PLANS WITH THE ASSOCIATION (§§ 31-31-701 — 31-31-708) › Section 31-31-702 - [Repealed]

L. 96: Entire article added with relocations, p. 922, § 1, effective May 23. L. 2010: Entire section repealed, (SB 10-024), ch. 20, p. 89, §1, effective August 11.
This section was formerly numbered as § 31-30-1003.3.
2023 Colorado Revised Statutes › Title 31 - GOVERNMENT - MUNICIPAL (§§ 31-1-101 — 31-35-712) › POWERS AND FUNCTIONS OF CITIES AND TOWNS (§§ 31-15-101 — 31-35-712) › Article 31 - FIRE - POLICE - NEW HIRE PENSION PLANS (§§ 31-31-101 — 31-31-1203) › Part 7 - AFFILIATION OF PLANS WITH THE ASSOCIATION (§§ 31-31-701 — 31-31-708) › Section 31-31-703 - [Repealed]

L. 96: Entire article added with relocations, p. 922, § 1, effective May 23. L. 97: (1), (2), (5), and (6) amended, p. 15, § 6, effective March 13. L. 2000: (2) amended, p. 51, § 1, effective August 2. L. 2004: (2) amended, p. 1204, § 77, effective August 4. L. 2006: Entire section amended, p. 195, § 21, effective March 31. L. 2010: Entire section repealed, (SB 10-024), ch. 20, p. 89, §2, effective August 11.
This section was formerly numbered as § 31-30-1012.3.