Colorado § 23-20-139 Retirement plan - eligibility - election

Colorado Statutes

§ 23-20-139 — Retirement plan - eligibility - election

Colorado·Title 23 Postsecondary Education·Art. University of Colorado

(1)(a) The university of Colorado president, chancellors, deans, other professionals exempt from the state personnel system, and faculty as determined by the board of regents to be eligible to participate in a university of Colorado retirement plan shall be members of a university retirement plan and covered under social security if required by federal law; except that, upon initial appointment to or employment in a position described in this subsection (1), an employee who is a member or inactive member of the association shall elect, within thirty days after such appointment, either to join the association in accordance with the provisions of article 51 of title 24, C.R.S., or to participate in a university retirement plan.

(b)For purposes of this section, association means t

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(1) (a) The university of
Colorado president, chancellors, deans, other professionals exempt from the state
personnel system, and faculty as determined by the board of regents to be eligible
to participate in a university of Colorado retirement plan shall be members of a
university retirement plan and covered under social security if required by federal
law; except that, upon initial appointment to or employment in a position described
in this subsection (1), an employee who is a member or inactive member of the
association shall elect, within thirty days after such appointment, either to join the
association in accordance with the provisions of article 51 of title 24, C.R.S., or to
participate in a university retirement plan.

(b) For purposes of this section, association means the public employees'
retirement association created pursuant to section 24-51-201, C.R.S.

(2) An election made by an employee pursuant to subsection (1) of this
section shall be irrevocable and shall remain the election of the employee at any
time the employee is employed by the university in a position described in
subsection (1) of this section.

(3) An election to participate in a university retirement plan pursuant to
subsection (1) of this section shall be in writing and shall be filed with the
association and with the university in a manner prescribed by the university.

(4) An election to join the association pursuant to the provisions of this
section shall be in writing in the manner provided by the association and shall be
filed with the association no more than thirty days after the election.

(5) If an employee fails to make an election pursuant to the provisions of this
section, the employee shall be a member of the association.

(6) The university shall be solely responsible for educating employees and
providing information to employees about the process provided in this section and
for the administration of the process.

(7) Administrative actions or civil actions brought by employees to dispute
the election for participation or failure to elect participation in the association or a
university retirement plan shall commence within one hundred eighty days after the
election or within one hundred eighty days after the date on which the employee
may make an election to participate in such plan pursuant to this section, whichever
is earlier, and not thereafter.

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