§ 24-51-101 — Definitions
This text of Colorado § 24-51-101 (Definitions) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Text
As used in this article 51, unless the context otherwise requires and except as otherwise defined in part 17 of this article 51:
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As used in this article 51, unless the context
otherwise requires and except as otherwise defined in part 17 of this article 51:
(1) Actuarial equivalent means an amount equal to a specified benefit
based on an assumed interest rate and life expectancy.
(2) Actuarial investment assumption rate means the assumed rate of
return from investments as set by the board with the advice of the actuary.
(3) Actuarial valuation means the determination, as of a valuation date, of
the normal cost, actuarial accrued liability, actuarial value of assets, and related
actuarial present values of the plan.
(4) Actuary or actuaries means the professional consultants retained by
the board to review statistics and make periodic evaluations of the finances needed
for the payment of future retirement benefits, survivor benefits, and health-care
subsidies.
(5) Amortization period means the number of years which is required to
gradually extinguish the unfunded actuarial accrued liabilities of the plan if future
actuarial experience exactly matches the assumptions set by the board.
(6) Association means the public employees' retirement association
created pursuant to the provisions of section 24-51-201.
(6.5) Base benefit means the initial benefit for a benefit that becomes
effective after March 1, 2009. For a benefit that became effective on or before
March 1, 2009, base benefit means the total benefit payable as of June 30, 2010,
including the sum of the initial benefit, accumulated annual increases, and cost of
living increases.
(7) Benefit means the monthly payment for service retirement, disability
retirement, or survivor benefits. A refund pursuant to the provisions of section 24-51-405 or a single payment to a survivor is not a benefit.
(8) Benefit recipient means a retiree, spouse, cobeneficiary, qualified child,
or dependent parent receiving monthly service retirement, disability retirement, or
survivor benefits. Benefit recipient does not include a person who has received a
refund pursuant to the provisions of section 24-51-405 or a single payment.
(9) Board means the board of trustees created pursuant to the provisions
of section 24-51-202 which has such duties and powers authorized by this article
for the management of the association.
(10) Cobeneficiary means:
(a) The person or supplemental needs trust selected by the member or
ordered by court decree prior to retirement to be the person selected under option
2 or 3 pursuant to the provisions of section 24-51-801 to receive a continuing
benefit upon the retiree's death; or
(b) The person or supplemental needs trust designated by a member eligible
for service retirement or ordered by a court decree prior to retirement to be the
person selected to receive option 3 upon the member's death pursuant to the
provisions of section 24-51-906.
(11) Repealed.
(12) (Deleted by amendment, L. 2000, p. 779, � 2, effective March 1, 2001.)
(13) Contributions means the total of employer and member contributions
paid to the association.
(13.5) Deferred compensation plan means an eligible deferred
compensation plan established and administered pursuant to the provisions of 26
U.S.C. sec. 457 (b), as amended.
(14) Dependent parents means, for survivor benefits purposes, parents who
received fifty percent or more of their support from the member at the time of the
member's death. Dependent parents also means parents who receive fifty percent
or more of their support from a benefit recipient at the time they request eligibility
for the health care program.
(15) Dependents means the spouse, qualified children, and dependent
parents of a benefit recipient.
(16) Disability means mental or physical incapacitation as determined
pursuant to part 7 of this article.
(17) Disabled means mentally or physically incapacitated as determined
pursuant to part 7 of this article.
(18) Division means the state, school, local government, judicial, or Denver
public schools division, each of which is identified by a separate trust fund,
amortization period, and membership.
(18.2) DPS means Denver public schools.
(18.3) DPS member means any person who has an existing member
account in the DPS plan on December 31, 2009, or has an existing member account
based on service performed prior to January 1, 2010, for which such member
received compensation on or after January 1, 2010.
(18.5) DPS plan means the Denver public schools retirement system
retirement and benefit plan enacted by the Denver public schools board of
education pursuant to section 22-64-202, C.R.S., and governed by article 64 of title
22 and related plan documents, as amended, from inception to the repeal of said
article. After May 21, 2009, the DPS plan may be amended solely for the purposes
of complying with the federal Internal Revenue Code of 1986, as amended, and
such amendments shall be included in the DPS plan.
(18.7) DPS retiree means a person who is receiving a service retirement or
disability benefit from the association pursuant to part 17 of this article.
(19) Effective date of retirement means the date after termination of
employment on which the member becomes eligible for benefits.
(20) Employer means the state of Colorado, the general assembly, any
state department, board, commission, bureau, agency, or institution, the Colorado
association of school boards, the Colorado high school activities association, the
Colorado association of school executives, the fire and police pension association,
the special districts association, the Colorado water resources and power
development authority, the public employees' retirement association, the Colorado
consortium for earth and space science education, all school districts in Colorado,
and any political subdivision, city, municipality, county, housing authority, special
district, library district, regional planning commission, public hospital, county or
district public health agency, state university, state college, state local district
college, or other public entity that is affiliated with the plan.
(21) Employer contribution means the money paid by an employer to the
association pursuant to the provisions of section 24-51-401 (1.7) for all member
salaries paid and other required employer contributions made pursuant to the
provisions of section 24-51-402.
(21.5) Erroneous contribution means an amount contributed in error to a
member contribution account based on compensation that is not salary as defined
in subsection (42) of this section.
(22) Former member means an individual who received a refund upon
termination of employment pursuant to the provisions of section 24-51-405.
(23) Fund means the total assets of the association which are credited to
the various trust funds established and invested by the association pursuant to the
provisions of this article.
(24) Health care means the program provided for in part 12 of this article.
(25) (a) Highest average salary means:
(I) (A) For a member or inactive member who has five years of service credit
on December 31, 2019, or a retiree who was retired on December 31, 2019, one-twelfth of the average of the highest annual salaries upon which contributions were
paid, whether earned from one or more employers, that are associated with three
periods of twelve consecutive months of service credit;
(B) For a member or inactive member who does not have five years of service
credit on December 31, 2019, or a member who was not a member, inactive member,
or retiree on December 31, 2019, one-twelfth of the average of the highest annual
salaries upon which contributions were paid, whether earned from one or more
employers, that are associated with five periods of twelve consecutive months of
service credit;
(II) For a member who does not have the requisite years of service credit,
one-twelfth of the average of the total annual salaries earned during membership
upon which contributions were paid;
(III) For benefits that become effective on or after January 1, 1982, where the
individual earned less than one year of service credit after December 31, 1980, one-twelfth of the average of the highest annual salaries upon which contributions were
paid which were associated with five consecutive years of service credit;
(IV) Notwithstanding any other provision of this subsection (25)(a) to the
contrary, for members of the judicial division who have five years of service credit
on December 31, 2019, retiring on or after July 1, 1997, one-twelfth of the highest
annual salary upon which contributions were paid for twelve consecutive months; or
(V) Notwithstanding any other provision of this subsection (25)(a) to the
contrary, for members of the judicial division who do not have five years of service
credit on December 31, 2019, or for members of the judicial division who were not
members, inactive members, or retirees on December 31, 2019, one-twelfth of the
average of the highest annual salaries upon which contributions were paid that are
associated with three periods of twelve consecutive months of service credit.
(b) (I) In calculating highest average salary pursuant to subparagraph (I) of
paragraph (a) of this subsection (25), for a member who was a member, inactive
member, or retiree on December 31, 2006, and who has an effective date of
retirement before January 1, 2009, if any annual salary used in said calculation was
associated with service credit earned during the last three years of membership,
each annual salary increase shall be limited to fifteen percent. This limitation shall
not apply to salary decreases.
(II) In calculating highest average salary pursuant to subparagraph (I) of
paragraph (a) of this subsection (25), for a member who was a member, inactive
member, or retiree on December 31, 2006, and who has an effective date of
retirement before January 1, 2009, if all annual salaries used in said calculation
were associated with service credit earned prior to the last three years of
membership, no fifteen percent limit shall be applied to the salary differences.
(III) In calculating highest average salary for a member who was a member,
inactive member, or retiree on December 31, 2006, and who has an effective date of
retirement on or after January 1, 2009, the association shall determine the highest
annual salaries associated with four periods of twelve consecutive months of
service credit. The lowest of such annual salaries shall be the base salary. The first
annual salary to be used in the highest average salary calculation shall be the
actual salary reported up to one hundred fifteen percent of the base salary. The
second annual salary to be used in the highest average salary calculation shall be
the actual salary reported up to one hundred fifteen percent of the first annual
salary used in the highest average salary calculation. The third annual salary to be
used in the highest average salary calculation shall be the actual salary reported up
to one hundred fifteen percent of the second annual salary used in the highest
average salary calculation.
(IV) In calculating highest average salary for a member who was not a
member, inactive member, or retiree on December 31, 2006, the association shall
determine the highest annual salaries associated with four periods of twelve
consecutive months of service credit. The lowest of such annual salaries shall be
the base salary. The first annual salary to be used in the highest average salary
calculation shall be the actual salary reported up to one hundred eight percent of
the base salary. The second annual salary to be used in the highest average salary
calculation shall be the actual salary reported up to one hundred eight percent of
the first annual salary used in the highest average salary calculation. The third
annual salary to be used in the highest average salary calculation shall be the
actual salary reported up to one hundred eight percent of the second annual salary
used in the highest average salary calculation.
(V) Notwithstanding any other provision of this subsection (25)(b), in
calculating highest average salary for a member or inactive member not eligible for
service or reduced service retirement on January 1, 2011, and who was a member or
inactive member with five years of service credit on December 31, 2019, or a retiree
on December 31, 2019, the association shall determine the highest annual salaries
associated with four periods of twelve consecutive months of service credit. The
lowest of such annual salaries shall be the base salary. The first annual salary to be
used in the highest average salary calculation shall be the actual salary reported up
to one hundred eight percent of the base salary. The second annual salary to be
used in the highest average salary calculation shall be the actual salary reported up
to one hundred eight percent of the first annual salary used in the highest average
salary calculation. The third annual salary to be used in the highest average salary
calculation shall be the actual salary reported up to one hundred eight percent of
the second annual salary used in the highest average salary calculation. This
subsection (25)(b)(V) shall not apply to members of the judicial division, except for
DPS members of the judicial division who have exercised portability pursuant to
section 24-51-1747 and selected the Denver public schools benefit structure. This
subsection (25)(b)(V) shall apply to DPS members in accordance with section 24-51-1702 (17).
(VI) Notwithstanding any other provision of this subsection (25)(b), in
calculating highest average salary for a member or inactive member who does not
have five years of service credit on December 31, 2019, or who was not a member,
inactive member, or retiree on December 31, 2019, the association shall determine
the highest annual salaries associated with six periods of twelve consecutive
months of service credit. The lowest of such annual salaries shall be the base
salary. The first annual salary to be used in the highest average salary calculation
shall be the actual salary reported up to one hundred eight percent of the base
salary. The second annual salary to be used in the highest average salary
calculation shall be the actual salary reported up to one hundred eight percent of
the first annual salary used in the highest average salary calculation. The third
annual salary to be used in the highest average salary calculation shall be the
actual salary reported up to one hundred eight percent of the second annual salary
used in the highest average salary calculation. The fourth annual salary to be used
in the highest average salary calculation shall be the actual salary reported up to
one hundred eight percent of the third annual salary used in the highest average
salary calculation. The fifth annual salary to be used in the highest average salary
calculation shall be the actual salary reported up to one hundred eight percent of
the fourth annual salary used in the highest average salary calculation. This
subsection (25)(b)(VI) does not apply to members of the judicial division, except for
DPS members of the judicial division who have exercised portability pursuant to
section 24-51-1747 and selected the DPS benefit structure. This subsection
(25)(b)(VI) applies to DPS members in accordance with section 24-51-1702 (17).
(VII) Notwithstanding any other provision of this subsection (25)(b), for
members of the judicial division who do not have five years of service credit on
December 31, 2019, or for members of the judicial division who were not members,
inactive members, or retirees on December 31, 2019, the association shall determine
the highest annual salaries associated with four periods of twelve consecutive
months of service credit. The lowest of such annual salaries shall be the base
salary. The first annual salary to be used in the highest average salary calculation
shall be the actual salary reported up to one hundred eight percent of the base
salary. The second annual salary to be used in the highest average salary
calculation shall be the actual salary reported up to one hundred eight percent of
the first annual salary used in the highest average salary calculation. The third
annual salary to be used in the highest average salary calculation shall be the
actual salary reported up to one hundred eight percent of the second annual salary
used in the highest average salary calculation.
(c) For retirements on or before January 1, 1989, if a member had a rate of
pay reduction occur within any calendar year used in the calculation of highest
average salary, the calculation shall be the average of the highest three periods of
twelve consecutive months of salary if this results in a higher average salary.
(d) (I) If a member has a rate of pay reduction resulting from the furloughing
of such member during the 2002-03 or 2003-04 state fiscal years and the
reduction occurs during any period of twelve consecutive months used to calculate
the member's highest average salary, the member may pay during the three months
prior to the effective date of retirement the full member contribution upon and be
credited with an amount equal to any such reduction for the period used in the
calculation of highest average salary. If a member pays the member contribution
pursuant to this paragraph (d), the employer shall forward to the association the
full amount of the employer contribution on the amount of pay reduction within ten
business days following notice by the association of the amount due. The rate of
employer and employee contributions shall be as set forth in section 24-51-401 (1.7).
(II) Each employer shall forward to the association a list of its retired
employees who had a furlough from July 1, 2002, through June 30, 2003. The list
shall show the amount of pay reduction that resulted from the furlough of such
employee for each month during that period. The retiree may pay the member
contribution on such amount in full within thirty days of the date the association
notifies the retiree of the amount due. If the employee pays that contribution, then
the employer shall forward to the association the full amount of the employer
contribution on the amount of pay reduction within ten business days following
notice by the association of the amount due pursuant to subparagraph (I) of this
paragraph (d). Upon receipt of both contributions, the association shall include the
amount of pay reduction that resulted from the furlough for the period used in the
calculation of highest average salary.
(26) Inactive member means a person who has terminated membership and
is not making member contributions but who has money in a member contribution
account. Inactive member includes persons making continuing payments in lieu of
member contributions pursuant to the provisions of section 24-51-606 (2). Inactive
members are not members as defined in subsection (29) of this section.
(27) Initial benefit means the first full monthly benefit paid to the benefit
recipient or the first full monthly benefit paid to a benefit recipient after
recalculation of the benefit pursuant to the provisions of sections 24-51-1103 and
24-51-1104.
(28) Interest means:
(a) The actuarial investment assumption rate compounded annually for any
interest charged to a member or benefit recipient pursuant to the provisions of this
article;
(b) The applicable actuarial investment assumption rate compounded
annually for any interest charged to an employer pursuant to the provisions of this
article; and
(c) The rate established by the board for each calendar year pursuant to the
provisions of section 24-51-407 for interest on member contributions.
(28.5) Matching employer contributions means:
(a) The portion of employer contributions used together with the member
contribution account to determine the amount of a member's money purchase
retirement benefit pursuant to the provisions of sections 24-51-408 (1) and 24-51-605.5 (2); and
(b) The portion of employer contributions paid together with the refund of
the member contribution account to members who have terminated membership
pursuant to the provisions of sections 24-51-405 and 24-51-408 (2).
(29) Member means any employee of an employer defined in subsection
(20) of this section who works in a position which is subject to membership in the
association and for whom contributions are made. Member includes such
employee during leaves of absence without pay during which the employer-employee relationship continues if the period of leave is certified to the association
by the employer. Member also includes any person hired by an employer affiliated
with the Denver public schools division who is not a DPS member, unless otherwise
indicated. Member does not include persons who have terminated employment or
died.
(30) Member contribution means the money paid to the association that
equals a percentage of the member's salary as determined pursuant to the
provisions of section 24-51-401 (1.7). Member contribution does not include
working retiree contributions as defined in subsection (53) of this section.
(31) Member contribution account means an account maintained for each
member in the member contribution reserve to which member contributions,
interest on member contributions, payments in lieu of member contributions, and
payments and interest made for purchases of service credit are credited.
(32) Members of the judicial division means justices of the supreme court
and judges of the court of appeals, district courts, county courts, probate courts,
and juvenile courts.
(33) Named beneficiary means any person designated in writing by a
member to receive a single payment upon the death of the member when survivor
benefits are not payable.
(34) Plan means the design of the association which is established for the
purpose of providing employers, members, and cobeneficiaries and named
beneficiaries of such members, such rights, obligations, and duties as provided for
in the provisions of this article.
(34.5) Portability means the provisions of section 24-51-1747.
(35) Premium means the total amount charged by a life insurer, health
insurer, health maintenance organization, health-care provider, or by the
association for each participant and shall be equal to the total of the amount paid
by the participant and the premium subsidy, if any, paid by the plan.
(36) Projected service credit means the service credit which would have
been earned if the retiree receiving disability retirement benefits had continued
membership until reaching sixty-five years of age; except that a member's service
credit, including any projected service credit, cannot exceed twenty years.
(37) Qualified children means natural or adopted children of a member who
are unmarried and under eighteen years of age or who are unmarried and eighteen
years of age or older but under twenty-three years of age if enrolled full time in an
accredited school within six months after the date of death of such member.
Qualified children includes any children who become mentally or physically
incapacitated prior to attaining such age or marital status which precludes them
from obtaining gainful employment, and such children shall continue to be
considered qualified children so long as such disability continues.
(38) Repealed.
(39) Retiree means a person who is receiving a service or disability
retirement benefit from the association pursuant to part 6 or 7 of this article.
(40) Retirement means the time when the retiree is receiving retirement
benefits pursuant to part 6 or 7 of this article.
(41) Retirement benefit means the monthly service retirement benefit or
the disability retirement benefit provided for in this article.
(42) (a) (I) Salary means, for members who were members, inactive
members, or retirees of the association on June 30, 2019, compensation for services
rendered to an employer and includes: Regular salary or pay; any pay for
administrative, sabbatical, annual, sick, vacation, or personal leave and
compensation for unused leave converted to cash payments; pay for compensatory
time or holidays; payments by an employer from grants; amounts deducted from
pay pursuant to tax-sheltered savings or retirement programs; amounts deducted
from pay for a health savings account as defined in 26 U.S.C. sec. 223, as amended,
or any other type of retirement health savings account program; performance or
merit payments, if approved by the board; special pay for work-related injuries paid
by the employer prior to termination of membership; and retroactive salary
payments pursuant to court orders, arbitration awards, or litigation and grievance
settlements.
(II) For members who were members, inactive members, or retirees of the
association on June 30, 2019, salary does not include: Commissions; compensation
for unused sick, annual, vacation, administrative, or other accumulated paid leave
contributed to a health savings account as defined in 26 U.S.C. sec. 223, as
amended, or a retirement health savings program; housing allowances; uniform
allowances; automobile usage; insurance premiums; dependent care assistance;
reimbursement for expenses incurred; tuition or any other fringe benefits,
regardless of federal taxation; bonuses for services not actually rendered,
including, but not limited to, early retirement inducements, Christmas bonuses,
cash awards, honorariums and severance pay, damages, except for retroactive
salary payments paid pursuant to court orders or arbitration awards or litigation
and grievance settlements, or payments beyond the date of a member's death.
(b) (I) Salary means, for members who were not members, inactive
members, or retirees of the association on June 30, 2019, compensation for services
rendered to an employer and includes: Regular salary or pay; any pay for
administrative, sabbatical, annual, sick, vacation, or personal leave and
compensation for unused leave converted to cash payments; pay for compensatory
time or holidays; payments by an employer from grants; amounts deducted from
pay pursuant to tax-sheltered savings or retirement programs; amounts deducted
from pay for a health savings account as defined in 26 U.S.C. sec. 223, as amended,
or any other type of retirement health savings account program; amounts deducted
from pay pursuant to a cafeteria plan as defined in 26 U.S.C. sec. 125, as amended;
a qualified transportation fringe benefit plan as defined in 26 U.S.C. sec. 132, as
amended; performance or merit payments, if approved by the board; special pay for
work-related injuries paid by the employer prior to termination of membership; and
retroactive salary payments pursuant to court orders, arbitration awards, or
litigation and grievance settlements.
(II) For members who were not members, inactive members, or retirees of the
association on June 30, 2019,salary does not include: Commissions; compensation
for unused sick, annual, vacation, administrative, or other accumulated paid leave
contributed to a health savings account as defined in 26 U.S.C. sec. 223, as
amended, or a retirement health savings program; housing allowances; uniform
allowances; automobile usage; insurance premiums paid by employers;
reimbursement for expenses incurred; tuition or any other fringe benefits,
regardless of federal taxation; bonuses for services not actually rendered,
including, but not limited to, early retirement inducements, Christmas bonuses,
cash awards, honorariums and severance pay, damages, except for retroactive
salary payments paid pursuant to court orders or arbitration awards or litigation
and grievance settlements, or payments beyond the date of a member's death.
(c) Compensation received by DPS members on or before December 31,
2009, shall be governed by part 17 of this article for purposes of determining
includable salary. On and after January 1, 2010, compensation received by DPS
members shall be governed by paragraphs (a) and (b) of this subsection (42) for
purposes of determining includable salary. Any adjustments to compensation shall
be governed by the provisions in effect for the period for which the adjustment
applied.
(43) Service credit means the total of all earned, purchased, projected, and
uniformed service credit; however, it does not necessarily equal the number of
years employed.
(44) Service credit purchase agreement means the agreement between
the member and the association with regard to the service credit eligible for
purchase, the cost of the purchase, the date the payment is to begin and end, and
the method of payment.
(45) Single payment means the one-time payment of the moneys credited
to the member contribution account of a deceased member or deceased inactive
member, together with matching employer contributions. A single payment is not
a benefit.
(46) State trooper means an employee of the Colorado state patrol,
Colorado bureau of investigation, or successors to these agencies, who is vested
with the powers of peace officers as provided for in section 24-33.5-409. In
addition, for members who were not members, inactive members, or retirees on
December 31, 2019, state trooper includes a county sheriff, undersheriff, deputy
sheriff, noncertified deputy sheriff, or detention officer hired by a local government
division employer on or after January 1, 2020, and a corrections officer classified as
I through IV hired by a state division employer on or after January 1, 2020. Beginning
July 1, 2020, state trooper also includes an employee of the division of fire
prevention and control in the department of public safety who is classified in the
firefighter I through firefighter VII class titles. Beginning July 1, 2023, state
trooper also includes a wildlife officer as defined in section 16-2.5-116 (1), and a
parks and recreation officer as defined in section 16-2.5-117 (1), who is employed by
the division of parks and wildlife in the department of natural resources and was
hired on or after January 1, 2011. Beginning January 1, 2025, state trooper also
includes a person who is elected, reelected, or appointed by a local government
division employer as a county coroner or deputy coroner pursuant to part 6 of
article 10 of title 30 on or after January 1, 2021. Beginning July 1, 2025, state
trooper also includes a duly sworn employee of the division of fire prevention and
control in the department of public safety whose duties include structural or
wildfire management, wildfire response, live-fire training, or wildfire leadership, as
determined by the executive director of the department of public safety.
(46.5) Supplemental needs trust means a valid third-party special needs
trust established for a member's or retiree's child as the beneficiary of the trust
that complies with the Colorado Medical Assistance Act, articles 4 to 6 of title
25.5, C.R.S., and the federal Social Security Act, as amended. The department of
health care policy and financing shall review any trust established during the
determination or redetermination of an individual's eligibility for medical assistance
and specifically as to the effect of any trust on such eligibility for medical
assistance. The trust must be for the benefit of a single beneficiary and must be
coterminous with the lifetime of such beneficiary.
(47) Surviving spouse means the surviving spouse of a deceased member
or a deceased inactive member and includes a widow and a widower.
(48) Survivor benefits means the monthly benefit payable pursuant to part
9 of this article upon the death of a member or inactive member prior to retirement
but does not include a single payment made upon the death of a member or inactive
member.
(49) Termination of employment means the last day of employment for
which a member receives compensation on which contributions are remitted,
including payment for accumulated sick or annual leave, or the last day of a period
of unpaid leave of absence, whichever is later.
(50) Termination of membership means the loss of membership which
occurs on the date the member terminates employment, retires, or dies.
(51) Vested benefit means an entitlement to a future monthly benefit which
is earned upon completion of five years of service credit.
(52) Voluntary investment program means a voluntary tax-deferred
investment program established and administered pursuant to the provisions of 26
U.S.C. sec. 401 (k), as amended.
(53) Working retiree contributions means an amount paid to the
association that equals the percentage of salary that would be paid as member
contributions pursuant to section 24-51-401 (1.7)(a); except that working retiree
contributions shall not be considered member contributions and shall not be
deposited in the member contribution account.
Legislative History
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