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 2 - ADMINISTRATION (§§ 24-51-201 — 24-51-221) › Section 24-51-212 - Funds not subject to legal process

(1)
Except for federal tax liens on distributions payable by the association, for Colorado tax distraints and liens pursuant to section
39-21-114
, C.R.S., on distributions payable by the association, for assignments for child support purposes as provided for in sections
14-10-118 (1)
and
14-14-107
, C.R.S., as they existed prior to July 1, 1996, for income assignments for child support purposes pursuant to section
14-14-111.5
, C.R.S., for writs of garnishment that are the result of a judgment taken for arrearages for child support or for child support debt, for payments from the association in compliance with a properly executed court order approving a written agreement entered into pursuant to section
14-10-113 (6)
, C.R.S., 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 section
24-51-207
where the offender or a related party received direct financial gain, none of the moneys, trust funds, reserves, accounts, contributions pursuant to parts 4, 5, 14, 15, 16, and 17 of this article, or benefits referred to in this article shall be assignable either in law or in equity or be subject to execution, levy, attachment, garnishment, bankruptcy proceedings, or other legal process. Member contributions are subject to garnishment resulting from a judgment taken for arrearages for child support or for child support debt, 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 section
24-51-207
where the offender or a related party received direct financial gain, only if the membership has terminated and the member is not vested.
(2)
Notwithstanding the provisions of this section, upon service to the association of orders, injunctions, or warrants issued pursuant to sections
18-17-105
and
18-17-106
or section
16-3-301
, C.R.S., applicable to a member contribution account based upon allegations of theft, embezzlement, misappropriation, or wrongful conversion of public property, a member who terminates membership is prohibited from receiving a refund of the member's contribution account and matching employer contributions pursuant to section
24-51-405
or a refund of member contributions pursuant to part 17 of this article, until a court order or the issuing authority releases the member contribution account from said orders, injunctions, or warrants.
L. 87: Entire article R&RE, p. 1051, § 1, effective July 1; entire section amended, p. 596, § 28, effective July 1. L. 91: Entire section amended, p. 826, § 2, effective April 9. L. 96: Entire section amended, p. 622, § 34, effective July 1; entire section amended, p. 1460, § 3, effective 1/1/1997. L. 97: Entire section amended, p. 66, § 11, effective July 1. L. 2004: Entire section amended, p. 1940, § 8, effective 1/1/2006. L. 2005: Entire section amended, pp. 72, 73, §§ 5, 6, effective August 8. L. 2008: Entire section amended, p. 63, § 1, effective August 5. L. 2009: (1) amended, (SB 09 -066), ch. 73, p. 246, § 1, effective March 31; entire section amended, (SB 09 -282), ch. 288, p. 1337, § 11, effective 1/1/2010.
(1) This section is similar to former §§ 24-51-120, 24-51-219, and 24-51-613.5 as they existed prior to 1987.
(2) Amendments to this section by Senate Bill 96-002 and Senate Bill 96-204 were harmonized.
(3) Amendments to subsection (1) by Senate Bill 09-066 and Senate Bill 09-282 were harmonized.