Colorado § 24-51-1719 Option C

Colorado Statutes

§ 24-51-1719 — Option C

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

(1)Any contributing member or affiliate member choosing or having chosen option C through December 31, 2009, will be governed by the DPS plan document. As of January 1, 2010, option C will no longer be a permissible payment choice.

(2)Notwithstanding any provision to the contrary, an annuitant may change the co-annuitant that was named by such annuitant and designate a supplemental needs trust as a co-annuitant in place of the previously named co-annuitant if:

(a)The beneficiary of the supplemental needs trust is the same person as the previously named co-annuitant; and

(b)The retiree files an application and any required documents in a form as designated by the association.

(3)If a supplemental needs trust is not established before or within ninety days after the death of

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(1) Any contributing member or affiliate member
choosing or having chosen option C through December 31, 2009, will be governed
by the DPS plan document. As of January 1, 2010, option C will no longer be a
permissible payment choice.

(2) Notwithstanding any provision to the contrary, an annuitant may change
the co-annuitant that was named by such annuitant and designate a supplemental
needs trust as a co-annuitant in place of the previously named co-annuitant if:

(a) The beneficiary of the supplemental needs trust is the same person as
the previously named co-annuitant; and

(b) The retiree files an application and any required documents in a form as
designated by the association.

(3) If a supplemental needs trust is not established before or within ninety
days after the death of the annuitant, is determined to be invalid, or is terminated
on or after the death of the annuitant, the beneficiary that was named in the trust is
the co-annuitant.

Colorado § 24-51-1719 (Option C) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2009: Entire part added, (SB 09-282), ch. 288, p. 1370, � 56, effective January 1, 2010. L. 2015: Entire section amended, (SB 15-097), ch. 111, p. 328, � 10, effective April 16.