reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 12 - HEALTH CARE PROGRAM (§§ 24-51-1201 — 24-51-1208) › Section 24-51-1203 - Authority to contract and to self-insure

The board shall have the authority to contract, self-insure, and make disbursements necessary to carry out the purposes of the health care program. Said authority shall include, but is not limited to, contracting with insurance carriers, health maintenance organizations, preferred provider organizations, and any other company or association as deemed necessary and proper by the board.
L. 87: Entire article R&RE, p. 1075, § 1, effective July 1.
This section is similar to former § 24-51-1403 as it existed prior to 1987.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 12 - HEALTH CARE PROGRAM (§§ 24-51-1201 — 24-51-1208) › Section 24-51-1204 - Health care program - eligibility

(1)
The following persons are eligible to enroll in the health care program:
(a)
All benefit recipients, including those from the Denver public schools division, and their dependents, including any dependent as defined in section
10-16-102 (17)
, C.R.S.; any unmarried children who are not natural or adopted children of the benefit recipient but who reside full time with the benefit recipient, are dependents of the benefit recipient for federal income tax purposes, and meet the age requirements of section
10-16-102 (17)
, C.R.S.; and any qualified children as defined in the rules adopted by the board;
(b)
A surviving spouse of a retiree who elected option 1 or a DPS retiree who elected a single life annuity pursuant to part 17 of this article, if such spouse was covered by the health care program at the time of the death of the retiree;
(c)
A divorced spouse of a retiree or of a DPS retiree if such spouse was enrolled in the health care program at the time of the divorce from the retiree;
(d)
The guardian of a child receiving survivor benefits while the child is enrolled in the health care program;
(e)
A member or a DPS member while receiving short-term disability program payments pursuant to part 7 of this article; and
(f)
A member or a DPS member whose employer has elected to provide coverage through the health care program and such member's dependents.
(2)
If a supplemental needs trust is receiving benefit payments pursuant to this article, the supplemental needs trust is not eligible to enroll in the health care program; however, the beneficiary of such trust is eligible to enroll in the health care program in the same manner that the beneficiary would be allowed to enroll if the beneficiary was the direct benefit recipient.
L. 87: Entire article R&RE, p. 1075, § 1, effective July 1. L. 97: (1)(e) added, p. 778, § 15, effective July 1. L. 98: (1)(a) amended, p. 128, § 2, effective March 27. L. 99: (1)(d) and (1)(e) amended and (1)(f) added, p. 342, § 8, effective 1/1/2001. L. 2009: Entire section amended, (SB 09 -282), ch. 288, p. 1348, § 47, effective 1/1/2010. L. 2013: (1)(a) amended, (HB 13-1266), ch. 217, p. 991, § 59, effective May 13. L. 2015: (2) added, (SB 15-097), ch. 111, p. 327, § 7, effective April 16.
This section is similar to former §§ 24-51-1402 and 24-51-1405 as they existed prior to 1987.
For the legislative declaration in SB 15-097, see section 1 of chapter 111, Session Laws of Colorado 2015.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 12 - HEALTH CARE PROGRAM (§§ 24-51-1201 — 24-51-1208) › Section 24-51-1205 - Enrollment

(1)
Except as otherwise provided in this section, enrollment of eligible persons in the health care program may only take place within thirty days following either the effective date of retirement or the date of application for retirement, whichever is later, or at such enrollment times and pursuant to such conditions as are established by the board.
(2)
Any benefit recipient, including those from the Denver public schools division, a member, or a DPS member enrolled in the health care program who has a change in dependents may, within thirty days after such change, add the dependents to be enrolled in the health care program.
(3)
Repealed.
L. 87: Entire article R&RE, p. 1076, § 1, effective July 1. L. 97: (3) repealed, p. 67, § 15, effective July 1. L. 99: (2) amended, p. 343, § 9, effective 1/1/2001. L. 2009: (2) amended, (SB 09 -282), ch. 288, p. 1349, § 48, effective 1/1/2010.
This section is similar to former §§ 24-51-1405 and 24-51-1406 as they existed prior to 1987.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 12 - HEALTH CARE PROGRAM (§§ 24-51-1201 — 24-51-1208) › Section 24-51-1206.5 - Health care trust fund subsidy funding

(1)
The amount of the premium subsidy funded by each health care trust fund established in section
24-51-1201
shall be based on the percentage of the member contribution account balance from each division as it relates to the total member contribution account balance from which the benefit is paid.
(2)
A person who receives multiple benefits shall only receive one premium subsidy.
L. 2009: Entire section added, (SB 09 -282), ch. 288, p. 1350, § 50, effective 1/1/2010.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 12 - HEALTH CARE PROGRAM (§§ 24-51-1201 — 24-51-1208) › Section 24-51-1207 - Cancellation of enrollment

(1)
Upon thirty days' written notice to the association, any person enrolled in the health care program may cancel enrollment for himself, and any retiree may cancel enrollment in the health care program for his dependents.
(2)
Enrollment may be canceled by the association upon thirty days' written notice to any person enrolled in the health care program whose premium amount has not been received by the first day of the month for which coverage was being purchased.
L. 87: Entire article R&RE, p. 1076, § 1, effective July 1.
This section is similar to former §§ 24-51-1405, 24-51-1406, and 24-51-1408 as they existed prior to 1987.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 12 - HEALTH CARE PROGRAM (§§ 24-51-1201 — 24-51-1208) › Section 24-51-1208 - Long-term care insurance

The board is authorized to identify and designate one or more insurance providers to offer long-term care insurance to members, DPS members, retirees, DPS retirees, or all. Long-term care insurance offered pursuant to this section shall be funded solely through premium payments by members or retirees electing to contract for such insurance.
L. 97: Entire section added, p. 67, § 16, effective July 1. L. 2009: Entire section amended, (SB 09 -282), ch. 288, p. 1351, § 51, effective 1/1/2010.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 13 - LIFE INSURANCE (§§ 24-51-1301 — 24-51-1304) › Section 24-51-1301 - Plan sponsored group life insurance

The board may offer group life insurance coverage through any life insurance company qualified to do business in Colorado or may self-fund such coverage. Life insurance coverage shall be available to members and DPS members who voluntarily subscribe. Notwithstanding the provisions of section
10-7-201
, C.R.S., the board shall determine the terms and conditions of coverage and may negotiate or discontinue said coverage at any time the board determines such action to be in the best interest of the members. Members or DPS members who have elected group life insurance coverage shall be notified sixty days prior to any change in coverage or discontinuance.
L. 87: Entire article R&RE, p. 1077, § 1, effective July 1. L. 91: Entire section amended, p. 879, § 14, effective July 1. L. 95: Entire section amended, p. 265, § 11, effective July 1. L. 2009: Entire section amended, (SB 09 -282), ch. 288, p. 1351, § 52, effective 1/1/2010.
This section is similar to former § 24-51-103 as it existed prior to 1987.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 13 - LIFE INSURANCE (§§ 24-51-1301 — 24-51-1304) › Section 24-51-1302 - Premiums for group life insurance

(1)
Premiums for life insurance must be received by the association in order for an individual to be covered.
(2)
Continuation of life insurance coverage after retirement is available to any retiree from any division who, prior to retirement, authorizes life insurance premiums to be deducted from monthly benefit payments.
(2.5)
Life insurance coverage after termination of membership may continue for any inactive member who continues to pay life insurance premiums and does not receive a refund pursuant to the provisions of section
24-51-405
or part 17 of this article.
(3)
Life insurance provided pursuant to the provisions of this part 13 may be assigned by members, inactive members, or retirees, including those of the Denver public schools division.
(4)
The association shall pay no premium subsidy for life insurance.
L. 87: Entire article R&RE, p. 1077, § 1, effective July 1. L. 95: (1), (2), and (3) amended and (2.5) added, p. 266, § 12, effective July 1. L. 2009: (2), (2.5), and (3) amended, (SB 09 -282), ch. 288, p. 1352, § 53, effective 1/1/2010.
This section is similar to former § 24-51-103 as it existed prior to 1987.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 13 - LIFE INSURANCE (§§ 24-51-1301 — 24-51-1304) › Section 24-51-1303 - Life insurance beneficiary

Unless a member, DPS member, inactive member, deferred DPS member, retiree, DPS retiree, or a court decree names a different beneficiary for life insurance purposes, the named beneficiary shall be the beneficiary of such life insurance.
L. 87: Entire article R&RE, p. 1077, § 1, effective July 1. L. 95: Entire section amended, p. 266, § 13, effective July 1. L. 2009: Entire section amended, (SB 09 -282), ch. 288, p. 1352, § 54, effective 1/1/2010.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 13 - LIFE INSURANCE (§§ 24-51-1301 — 24-51-1304) › Section 24-51-1304 - Life insurance for certain retired state employees

(1)
Any retiree who had life insurance coverage pursuant to the provisions of part 2 of article
8
of title
10
, C.R.S., on June 30, 1986, shall continue to have such coverage unless the retiree refuses it. Any retiree who refuses such coverage may not resume coverage later.
(2)
The board may offer group life insurance coverage through any life insurance company qualified to do business in Colorado or may self-fund such coverage for eligible retirees under this section. The monthly premium shall be deducted from the benefits of each participating retiree and the association shall not pay any premium subsidy.
L. 87: Entire article R&RE, p. 1077, § 1, effective July 1. L. 95: (2) amended, p. 266, § 14, effective July 1.
(1) This section is similar to former § 24-51-1409 as it existed prior to 1987.
(2) The internal reference in subsection (1) to part 2 of article
8
of title
10
refers to that part as it existed prior to its repeal on May 19, 1994.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 14 - VOLUNTARY INVESTMENT PROGRAM (§§ 24-51-1401 — 24-51-1404) › Section 24-51-1401 - Voluntary investment program established and fund created

(1)
The board is hereby authorized to establish and administer a voluntary investment program and to create a separate trust fund to hold the assets of said investment program.
(2)
The voluntary investment program shall be available to all members, DPS members, retirees, and DPS retirees, and shall be in addition to any other retirement or tax-deferred compensation system established by the state or its political subdivisions.
(3)
The board is hereby authorized to offer participation in the voluntary investment program to all employees of employers that are affiliated with the association, regardless of whether those employees are members or retirees.
(4)
For purposes of this part 14, members and retirees shall include DPS members and DPS retirees.
L. 87: Entire article R&RE, p. 1077, § 1, effective July 1. L. 2001: (2) amended, p. 20, § 1, effective July 1. L. 2009: (3) added, (SB 09 -066), ch. 73, p. 256, § 19, effective March 31; (2) amended and (4) added, (SB 09 -282), ch. 288, p. 1352, § 55, effective 1/1/2010
This section is similar to former § 24-51-1302 as it existed prior to 1987.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 14 - VOLUNTARY INVESTMENT PROGRAM (§§ 24-51-1401 — 24-51-1404) › Section 24-51-1403 - Expenses of the voluntary investment program

The expenses of administering the voluntary investment program authorized in section
24-51-1401
shall be paid from the investment earnings of such voluntary investment program.
L. 87: Entire article R&RE, p. 1078, § 1, effective July 1.
This section is similar to former § 24-51-1302 as it existed prior to 1987.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 14 - VOLUNTARY INVESTMENT PROGRAM (§§ 24-51-1401 — 24-51-1404) › Section 24-51-1404 - Investments of the voluntary investment program

Participants in the voluntary investment program shall designate that their voluntary contributions be invested in one or more types of investments made available by the board. These investments may include, but are not limited to, equity investments, fixed-income investments, life insurance company products, and any investments permitted pursuant to the provisions of section
24-51-206
.
L. 87: Entire article R&RE, p. 1078, § 1, effective July 1. L. 2001: Entire section amended, p. 21, § 3, effective July 1. L. 2009: Entire section amended, (SB 09 -066), ch. 73, p. 257, § 21, effective March 31.
This section is similar to former § 24-51-1302 as it existed prior to 1987.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 15 - DEFINED CONTRIBUTION RETIREMENT PLANS (§§ 24-51-1500.2 — 24-51-1511) › Section 24-51-1500.2 - Legislative declaration

The general assembly finds and declares that the purpose of the defined contribution plan established in this part 15 is to provide eligible employees who participate in the defined contribution plan with a path toward having a secure retirement through a focus on lifetime retirement income to maintain an eligible employee's standard of living following a full career of employment. The provisions of this part 15 are designed to avoid a negative impact on the defined benefit trusts in this article 51. Employers are responsible for ensuring that their employees understand the advantages and disadvantages of the defined benefit and defined contribution plans.
Added by 2018 Ch. 370, § 21, eff. 6/4/2018.
L. 2018: Entire section added, (SB 18-200), ch. 370, p. 2257, § 21, effective June 4.
For the legislative declaration in SB 18-200, see section 1 of chapter 370, Session Laws of Colorado 2018.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 15 - DEFINED CONTRIBUTION RETIREMENT PLANS (§§ 24-51-1500.2 — 24-51-1511) › Section 24-51-1502 - New eligible employees - election - definitions

(1)
Any eligible employee pursuant to paragraph (a) of subsection (2) of this section shall elect, within sixty days of commencing employment, either to become a member of the association's defined benefit plan or the association's defined contribution plan. If an employee does not make such election within the sixty-day period, the employee shall become a member of the association's defined benefit plan. The employer is solely responsible for ensuring that an eligible employee pursuant to this section is given the opportunity to elect to become either a member of the defined benefit plan or the defined contribution plan.
(2)
(a)
For purposes of this part 15, "eligible employee" means, effective July 1, 2009, and effective January 1, 2019, for local government division employees and state division employees who are employed only in a classified position in the state personnel system by a state college or university, any employee who commences employment with an employer and who, if not commencing employment in a state elected official's position, has not been a member of the association's defined benefit plan or the association's defined contribution plan or an active participant of the state defined contribution plan established pursuant to part 2 of article
52
of this title 24, as said part existed prior to its repeal in 2009, during the twelve months prior to the date that he or she commenced employment. "Eligible employee" includes a retiree of the association who is serving in a state elected official's position but does not include any other retiree of the association or a retiree of the association who has suspended benefits.
(b)
An employee who is covered by a defined contribution plan pursuant to article
54.6
of this title or who is an employee of any state college or university as defined in section
24-54.5-102 (7)
, any institution under the control of the board of regents of the university of Colorado, or an institution governed pursuant to part 5 of article
21
of title
23
, C.R.S., shall not be eligible to make the election pursuant to subsection (1) of this section.
(3)
Repealed.
Amended by 2018 Ch. 370, § 23, eff. 6/4/2018.
L. 2004: Entire part added, p. 1947, § 23, effective 1/1/2006. L. 2005: (1) and (2)(a) amended, p. 210, § 1, effective April 7; (2)(a) amended, p. 902, § 4, effective June 2. L. 2006: Entire section amended, p. 1188, § 24, effective 1/1/2008. L. 2007: Entire section amended, p. 2011, § 2, effective 1/1/2008. L. 2009: (1) and (2)(a) amended and (3) added, (SB 09 -066), ch. 73, p. 250, § 6, effective March 31. L. 2018: (2)(a) amended and (3) repealed, (SB 18-200), ch. 370, p. 2257, § 23, effective June 4.
For the legislative declaration in SB 18-200, see section 1 of chapter 370, Session Laws of Colorado 2018.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 15 - DEFINED CONTRIBUTION RETIREMENT PLANS (§§ 24-51-1500.2 — 24-51-1511) › Section 24-51-1502.5 - [Repealed]

L. 2007: Entire section added, p. 2012, § 3, effective 1/1/2008. L. 2009: Entire section repealed, (SB 09 -066), ch. 73, p. 250, § 7, effective March 31.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 15 - DEFINED CONTRIBUTION RETIREMENT PLANS (§§ 24-51-1500.2 — 24-51-1511) › Section 24-51-1504 - Investments

(1)
The plan shall allow a member of the defined contribution plan to exercise control of the investment of the member's account under the plan, subject to the following provisions:
(a)
The board shall select at least five investment alternatives that allow a member a meaningful choice between risk and return in the investment of the member's account.
(b)
The plan shall allow the member to change investments regularly.
(c)
The plan shall provide the member with the information describing the investment alternatives, including information on the nature, investment performance, fees, and expenses of the investment alternatives.
(2)
The association and employers shall not have the responsibility to pay for any financial losses experienced by members of the defined contribution plan.
L. 2004: Entire part added, p. 1948, § 23, effective 1/1/2006.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 15 - DEFINED CONTRIBUTION RETIREMENT PLANS (§§ 24-51-1500.2 — 24-51-1511) › Section 24-51-1506 - Additional choices within first five years

(1)
An eligible employee who is a member of the association's defined contribution plan, except for individuals who became members of the association's defined contribution plan pursuant to section
24-51-1501 (2)
or
24-51-1503 (3)
, may elect, at any time during the second to fifth year of membership in the plan, to terminate membership in the plan and to become a member of the association's defined benefit plan with benefits and contribution rates specified in parts 4 to 12 of this article. Such election shall be irrevocable.
(2)
A member who elects to join the defined benefit plan pursuant to subsection (1) of this section may, upon meeting the requirements of section
24-51-505
, purchase service credit for the period of employment covered by the defined contribution plan. The cost to purchase such service shall be the same as the cost determined by the board for the purchase of noncovered employment. The member may elect to have any portion of the member's account paid from the defined contribution plan to the defined benefit plan to facilitate the purchase of service credit through a direct rollover in accordance with section 401 (a)(31) of the federal "Internal Revenue Code of 1986", as amended. The member may not be vested in the defined contribution plan upon purchasing service credit for employment that was covered by the defined contribution plan.
(3)
The board, in its sole discretion, may provide optional coverage for disability, survivor, and retiree health-care benefits to members of the association's defined contribution plan.
(4)
An eligible employee who is a member of the association's defined benefit plan may elect, at any time during the second to fifth year of membership in the plan, to terminate membership in the plan and to become a member of the association's defined contribution plan created pursuant to this part 15. Such election shall be irrevocable.
L. 2004: Entire part added, p. 1949, § 23, effective 1/1/2006. L. 2009: (1) and (3) amended, (SB 09 -066), ch. 73, p. 252, § 10, effective March 31.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 15 - DEFINED CONTRIBUTION RETIREMENT PLANS (§§ 24-51-1500.2 — 24-51-1511) › Section 24-51-1507 - Transfer or rollover into plan

The defined contribution plan may accept a direct rollover or a member rollover into the member's defined contribution plan account, to the extent permitted by federal law and authorized by the defined contribution plan.
L. 2004: Entire part added, p. 1950, § 23, effective 1/1/2006.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 15 - DEFINED CONTRIBUTION RETIREMENT PLANS (§§ 24-51-1500.2 — 24-51-1511) › Section 24-51-1508 - Distribution options

The defined contribution plan shall include options for the distribution of the defined contribution account, including payment in a lump sum and payment as a lifetime annuity. The state and other employers shall not have liability for any of the payments.
L. 2004: Entire part added, p. 1950, § 23, effective 1/1/2006.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 15 - DEFINED CONTRIBUTION RETIREMENT PLANS (§§ 24-51-1500.2 — 24-51-1511) › Section 24-51-1509 - Rights of defined contribution plan members

(1)
A defined contribution plan member shall not be considered a member or a retiree for the purpose of parts 4 to 12 of this article, nor shall his or her survivors or beneficiaries be considered benefit recipients.
(2)
A defined contribution plan member may participate in optional life insurance, long-term care insurance, the voluntary investment program, and the deferred compensation plan as provided in this article.
(3)
A member of the defined contribution plan shall be eligible to enroll in the health care program as a benefit recipient pursuant to section
24-51-1204 (1)(a)
only if the member elects the lifetime annuity distribution option. Any premium subsidy paid shall be based on the years of service credit in the defined benefit plan.
(4)
A member of the defined contribution plan who has reached the age at which a distribution would not be subject to a penalty pursuant to the federal "Internal Revenue Code of 1986", as amended, and who returns to employment shall be subject to the provisions of part 11 of this article concerning employment after retirement.
(5)
(Deleted by amendment, L. 2009, (SB 09-66), ch. 254, p. 254, § 12, effective March 31, 2009.)
L. 2004: Entire part added, p. 1950, § 23, effective 1/1/2006. L. 2009: (2) and (5) amended, (SB 09 -066), ch. 73, p. 254, § 12, effective March 31.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 15 - DEFINED CONTRIBUTION RETIREMENT PLANS (§§ 24-51-1500.2 — 24-51-1511) › Section 24-51-1510 - Report to members

On a quarterly basis, the board shall report to members who participate in the defined contribution plan. The report shall include a statement of account balances, a review of account transactions, and the amount of administrative fees charged to the members during the quarter.
L. 2004: Entire part added, p. 1951, § 23, effective 1/1/2006.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 15 - DEFINED CONTRIBUTION RETIREMENT PLANS (§§ 24-51-1500.2 — 24-51-1511) › Section 24-51-1511 - Limitation on actions by eligible employees

Administrative actions or civil actions brought by employees to dispute the election for participation or failure to elect participation in the association's defined benefit plan, the association's defined contribution plan, or the defined contribution plan established pursuant to part 2 of article
52
of this title, as said article existed prior to its repeal in 2009, shall commence within one hundred eighty days after the election or within one hundred eighty days of the last day on which the employee may make an election to participate in such plan pursuant to this article and article
52
of this title, whichever is earlier, and not thereafter.
L. 2006: Entire section added, p. 1190, § 26, effective May 25. L. 2009: Entire section amended, (SB 09 -066), ch. 73, p. 254, § 13, effective March 31.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 16 - DEFERRED COMPENSATION PLAN (§§ 24-51-1601 — 24-51-1605) › Section 24-51-1601 - Deferred compensation plan and trust fund

(1)
Effective July 1, 2009, the state deferred compensation committee established pursuant to section
24-52-102
, as said section existed prior to its repeal in 2009, shall be abolished, and the board shall assume the administration of and fiduciary responsibility for the state deferred compensation plan previously administered under part 1 of article
52
of title
24
, as said part existed prior to its repeal in 2009. The board shall have the authority to set the terms and conditions of the deferred compensation plan.
(2)
The board shall establish, as set forth in section
24-51-208 (1)(j)
, a deferred compensation plan trust fund, referred to in this part 16 as the "trust fund", to hold the assets of the deferred compensation plan.
(3)
The trust fund shall be established under section
24-51-208 (1)(j)
, effective upon transfer of assets of the deferred compensation plan to the trust fund. The board shall be trustee of the trust fund. No part of the assets and income of the trust fund shall be used for or diverted to purposes other than for the exclusive benefit of participants and their beneficiaries prior to the satisfaction of liabilities with respect to participants and their beneficiaries.
(4)
The department of personnel created in section
24-1-128
shall provide for the orderly transfer of all records pertaining to the state deferred compensation plan and the state defined contribution match plan and shall take any other action necessary for the board to assume its duties under this part 16.
L. 2009: Entire part added, (SB 09 -066), ch. 73, p. 258, § 22, effective March 31.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 16 - DEFERRED COMPENSATION PLAN (§§ 24-51-1601 — 24-51-1605) › Section 24-51-1602 - Affiliation with the deferred compensation plan

(1)
An employee is not eligible to participate in the deferred compensation plan authorized in section
24-51-1601
unless his or her employer is affiliated with such plan.
(2)
An employer, as defined in section
24-51-101 (20)
, may affiliate with the deferred compensation plan by making application to the association. All applications shall be subject to approval by the association. Upon affiliation, employees of the employer are eligible to begin deferring salary to the deferred compensation plan.
(3)
All employers that are affiliated with the deferred compensation plan prior to July 1, 2009, including entities that are not affiliated employers of the association, as employer is defined in section
24-51-101 (20)
, shall remain affiliated and shall not have to apply to the association pursuant to subsection (2) of this section.
(4)
Any employee who is employed by an entity that is affiliated with the deferred compensation plan shall be entitled to participate in the plan regardless of whether that individual is a member or retiree of the association.
L. 2009: Entire part added, (SB 09 -066), ch. 73, p. 258, § 22, effective March 31.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 16 - DEFERRED COMPENSATION PLAN (§§ 24-51-1601 — 24-51-1605) › Section 24-51-1603 - Contributions to the deferred compensation plan

(1)
An employee of an employer affiliated with the deferred compensation plan pursuant to section
24-51-1602 (2) or (3)
may participate in the deferred compensation plan authorized in section
24-51-1601
by electing with his or her employer to defer receipt of salary by specifying an amount contributed by payroll deduction. The amount of such deferral by the employee shall be subject to any limitations established by federal law. The amount deferred, including investment earnings, shall be exempt from federal and state income taxes until the ultimate distribution of such contributions has been made to the participant, former participant, or beneficiary.
(2)
All voluntary deferrals by a participating member shall be included in the salary of such member in accordance with section
24-51-101 (42)
for the purpose of calculating member and employer contributions pursuant to the provisions of section
24-51-401
. The member contribution provisions of section
24-51-401
shall not apply to any deferral made by a retiree.
(3)
Consistent with the provisions of section
24-51-401
(1.7)(c) and (1.7)(d), the employer shall deliver all deferred compensation contributions to the trust fund via the service provider designated by the association, if applicable, within five days after the date the employees are paid.
L. 2009: Entire part added, (SB 09 -066), ch. 73, p. 259, § 22, effective March 31.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 16 - DEFERRED COMPENSATION PLAN (§§ 24-51-1601 — 24-51-1605) › Section 24-51-1604 - Expenses of the deferred compensation plan

The expenses of administering the deferred compensation plan authorized in section
24-51-1601
shall be paid from either the investment earnings or account balances of the deferred compensation plan.
L. 2009: Entire part added, (SB 09 -066), ch. 73, p. 259, § 22, effective March 31.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 16 - DEFERRED COMPENSATION PLAN (§§ 24-51-1601 — 24-51-1605) › Section 24-51-1605 - Investments of the deferred compensation plan

(1)
Individuals participating in the deferred compensation plan shall designate that their deferred compensation contributions be invested in one or more types of investments made available by the board. These investments may include, but are not limited to, equity investments, fixed-income investments, life insurance company products, and any investments permitted pursuant to section
24-51-206
.
(2)
Neither the association nor any employers shall have the responsibility to pay for any financial losses experienced by members of the deferred compensation plan.
L. 2009: Entire part added, (SB 09 -066), ch. 73, p. 259, § 22, effective March 31.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 17 - DENVER PUBLIC SCHOOLS DIVISION (§§ 24-51-1701 — 24-51-1748) › Section 24-51-1701 - Legislative declaration

(1)
The general assembly hereby finds and declares that:
(a)
It is in the best interests of the people of this state to administer the Denver public schools pension system within the state under the public employees' retirement association.
(b)
The combination of the Denver public schools retirement system as a separate division of the public employees' retirement association will recognize the distinctive characteristics of that system and its funding over sixty-three years, and will also facilitate the general assembly's anticipated assessment of the contribution and benefit structure of the association's defined benefit plans to maintain the perpetual sustainability of such plans based on the recommendations from the board of trustees of the association in 2010.
(c)
The state's seventy-seven-year investment in the defined benefit plans for Colorado public servants has served the state invaluably. The association has provided positive investment returns on funds that, when distributed as benefits, remain substantially within Colorado and fosters a professional and effective governmental service system. These features strengthen the provision of government services for all citizens of the state in ways that no other retirement system could, affecting the public safety and general welfare of the state for the better.
(d)
The current separation of pension plans and provisions between Denver public schools employees and the employees of all the other school districts in the state creates artificial barriers for employees to relocate between the systems. Therefore, this separation hinders competitive forces for the placement of teachers and other employees at their potential optimum employment location, preventing the maximization of employee value for all school districts and citizens within the state.
(2)
The general assembly further finds and declares that the purpose of this part 17 is to combine the two systems with the intent of facilitating the perpetual future maintenance, security, and sustainability of the defined benefit plans within the public employees' retirement association. Given the special services and benefits rendered by Colorado's public servants to the citizens of the state, it is the province, right, and obligation of the state to care for the members and the dependents and survivors of its public servants who are entitled to retirement benefits due to length of service or age or because they have been injured or disabled in service.
L. 2009: Entire part added, (SB 09 -282), ch. 288, p. 1353, § 56, effective May 21.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 17 - DENVER PUBLIC SCHOOLS DIVISION (§§ 24-51-1701 — 24-51-1748) › Section 24-51-1705 - Purchase of service credit relating to a refunded member contribution account and noncovered employment

Purchases related to reemployment and noncovered employment for which payments are not complete prior to January 1, 2010, shall be governed by the DPS plan document. On January 1, 2010, service credit shall be credited to the member accounts to the extent of payments received, a new service credit purchase agreement shall be issued by the association using the previously existing lump-sum or installment payment amount, and future payments and service accruals shall be governed by part 5.
L. 2009: Entire part added, (SB 09 -282), ch. 288, p. 1364, § 56, effective 1/1/2010.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 17 - DENVER PUBLIC SCHOOLS DIVISION (§§ 24-51-1701 — 24-51-1748) › Section 24-51-1706 - Accreditation of casual employment and qualifiable leave

Accreditation of casual employment and qualifiable periods of leave as described in section
24-51-1704
for which payments are not complete prior to January 1, 2010, shall be governed by the DPS plan document. On January 1, 2010, such service shall be credited to the member accounts to the extent of payments received, and a new purchase agreement shall be issued by the association using the previously existing lump-sum or installment payment amount, and future payments and service accruals shall be governed by part 5 of this article. After January 1, 2010, accreditation of casual employment and qualifiable leaves as provided in this part 17 shall not be permitted.
L. 2009: Entire part added, (SB 09 -282), ch. 288, p. 1364, § 56, effective 1/1/2010.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 17 - DENVER PUBLIC SCHOOLS DIVISION (§§ 24-51-1701 — 24-51-1748) › Section 24-51-1707 - Affiliate membership

A casual employee who has been approved or has applied, and is ultimately approved, for status as an affiliate member as of December 31, 2009, shall remain an affiliate member and the benefits provided for pursuant to the DPS plan document shall govern at the time of retirement, unless such status is revoked pursuant to the DPS plan document. Any applicant for affiliate member status shall complete payments in accordance with the DPS plan document or be subject to revocation of affiliate member status. On or after January 1, 2010, further applications for affiliate membership shall not be permitted, and all eligible benefits payable to the existing affiliate members shall be based on the highest average salary, as defined in section
24-51-1702 (17)
, and benefit descriptions, as detailed in sections
24-51-1715
,
24-51-1729
, and
24-51-1734
to
24-51-1746
.
L. 2009: Entire part added, (SB 09 -282), ch. 288, p. 1364, § 56, effective 1/1/2010.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 17 - DENVER PUBLIC SCHOOLS DIVISION (§§ 24-51-1701 — 24-51-1748) › Section 24-51-1708 - Unclaimed moneys

Any moneys due under this part 17 to employees who have resigned, been dismissed, or died prior to retirement, and that have been unclaimed for a period of three years shall be forfeited and credited to the Denver public schools division.
L. 2009: Entire part added, (SB 09 -282), ch. 288, p. 1365, § 56, effective 1/1/2010.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 17 - DENVER PUBLIC SCHOOLS DIVISION (§§ 24-51-1701 — 24-51-1748) › Section 24-51-1709 - Arrearages

Arrearage contributions allowed pursuant to this part 17 that require employer contributions, as well as employee contributions, shall be the obligation of and shall be paid by the member's Denver public schools division employer at the time the payment obligation was initiated even if the service so qualified was rendered during a period of employment with a different Denver public schools division employer.
L. 2009: Entire part added, (SB 09 -282), ch. 288, p. 1365, § 56, effective 1/1/2010.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 17 - DENVER PUBLIC SCHOOLS DIVISION (§§ 24-51-1701 — 24-51-1748) › Section 24-51-1711 - Contributions - refunds

(1)
Refund upon termination.
Upon termination of employment, a contributing member or affiliate member, subject to the portability provisions of section
24-51-1747
, shall be entitled to a refund of the total accumulated contribution balance as of the date of such termination refund.
(2)
Request for refund for deferred members.
Subject to the provisions of portability in section
24-51-1747
, a deferred member account shall be available for refund unless a retirement benefit has commenced. The amount of the refund of such deferred account shall include any accumulated contribution balance or interest as of December 31, 2009, and interest accumulated thereafter, which shall be in accordance with section
24-51-407 (5)
. The accumulation of contributions or interest in the deferred account prior to December 31, 2009, shall be governed by the DPS plan document.
L. 2009: Entire part added, (SB 09 -282), ch. 288, p. 1366, § 56, effective 1/1/2010.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 17 - DENVER PUBLIC SCHOOLS DIVISION (§§ 24-51-1701 — 24-51-1748) › Section 24-51-1712 - Application for retirement benefits

Notwithstanding any other provision of this part 17, application for and processing of retirement applications shall be governed by the rules and procedures adopted by the association's board. Pursuant to the provisions of this part 17 regarding portability, references in this part 17 to service with the district shall be deemed to include service with all employers affiliated with the association.
L. 2009: Entire part added, (SB 09 -282), ch. 288, p. 1366, § 56, effective 1/1/2010.
2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PUBLIC EMPLOYEES RETIREMENT SYSTEMS (§§ 24-51-101 — 24-54.8-204) › Article 51 - Public Employees' Retirement Association (§§ 24-51-101 — 24-51-1748) › Part 17 - DENVER PUBLIC SCHOOLS DIVISION (§§ 24-51-1701 — 24-51-1748) › Section 24-51-1713 - Eligibility - retirements without actuarial reduction

(1)
This section shall only apply to DPS members who have five or more years of service credit as of January 1, 2011. For DPS members who have less than five years of service credit as of January 1, 2011, eligibility for retirement without an actuarial reduction shall be governed by section
24-51-602 (1)
(a.7) and (1)(d).
(2)
Whenever a contributing member or affiliate member pursuant to the DPS plan has completed a period of twenty-five years of active service, of which not less than fifteen years shall have been with the district, and has attained the age of fifty-five years while in the service of the district, said member shall be eligible for retirement for superannuation. Such retirement shall be made upon due application and subject to such rules as may be prescribed by the association.
(3)
Whenever a contributing member or affiliate member of the DPS plan has completed a period of five years of active service and has attained the age of sixty-five while in the service of the district, said member shall be eligible for retirement for superannuation. Such retirement shall be made upon due application and subject to such rules as may be prescribed by the board of trustees.
(4)
Whenever a contributing member or affiliate member pursuant to the DPS plan has completed a period of thirty years of active service with the district and has attained the age of fifty years while in the service of the district, said member shall be eligible for retirement for superannuation. Such retirement shall be made upon due application and subject to such rules as may be prescribed by the association.
L. 2009: Entire part added, (SB 09 -282), ch. 288, p. 1366, § 56, effective 1/1/2010. L. 2010: Entire section amended, (SB 10 -001), ch. 2, p. 25, § 27, effective 1/1/2011.