§ 24-51-1602 — Affiliation with the deferred compensation plan

Colorado § 24-51-1602

• Jurisdiction: Colorado
• Title 24: Government
• Art.: Public Employees' Retirement Association

Text

(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.

Legislative History

Source: L. 2009: Entire part added, (SB 09-066), ch. 73, p. 258, � 22, effective March 31.