Colorado § 24-51-1501 Defined contribution plan - establishment - creation of fund

Colorado Statutes

§ 24-51-1501 — Defined contribution plan - establishment - creation of fund

Colorado·Title 24 Government·Art. Public Employees' Retirement Association

(1)The board is hereby authorized to establish and administer a defined contribution plan for eligible employees as provided in this part 15. The board shall establish the terms and conditions of the association's defined contribution plan offered to eligible employees. The assets of the plan shall be held in a separate trust fund of the association created for such purpose.

(2)(a) Effective July 1, 2009:

(I)The state defined contribution plan established pursuant to part 2 of article 52 of this title, as said part 2 existed prior to its repeal in 2009, shall be merged into the association's defined contribution plan for eligible state employees established under this part 15, and all the assets of the state defined contribution plan and the trust fund shall be transferred v

Free access — add to your briefcase to read the full text and ask questions with AI

(1)
The board is hereby authorized to establish and administer a defined contribution
plan for eligible employees as provided in this part 15. The board shall establish the
terms and conditions of the association's defined contribution plan offered to
eligible employees. The assets of the plan shall be held in a separate trust fund of
the association created for such purpose.

(2) (a) Effective July 1, 2009:

(I) The state defined contribution plan established pursuant to part 2 of
article 52 of this title, as said part 2 existed prior to its repeal in 2009, shall be
merged into the association's defined contribution plan for eligible state employees
established under this part 15, and all the assets of the state defined contribution
plan and the trust fund shall be transferred via trustee-to-trustee transfer to the
defined contribution plan trust fund established pursuant to section 24-51-208
(1)(i);

(II) Participants of the state defined contribution plan shall, subject to
sections 24-51-1505 (4), 24-51-1506 (1), and 24-51-1506.5, become members of the
association's defined contribution plan; and

(III) The individual participant accounts in the state defined contribution plan
shall become individual participant accounts within the association's defined
contribution plan.

(b) The administration of the asset transfer pursuant to paragraph (a) of this
subsection (2) shall be determined by the board.

(3) The department of personnel created in section 24-1-128 shall provide for
the orderly transfer of all records pertaining to the state defined contribution plan
and shall take any other action as necessary for the board to assume its duties
under this part 15.

(4) Repealed.

Colorado § 24-51-1501 (Defined contribution plan - establishment - creation of fund) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2004: Entire part added, p. 1947, � 23, effective January 1, 2006. L. 2009: Entire section amended, (SB 09-066), ch. 73, p. 249, � 5, effective March 31. L. 2018: (1) and (4) amended, (SB 18-200), ch. 370, p. 2257, � 22, effective June 4. L. 2025: (4) repealed, (SB 25-275), ch. 377, p. 2109, � 336, effective August 6.