§ 24-51-1727 — Eligibility for deferred members

Colorado § 24-51-1727

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

Text

(1) Benefits shall be payable
under this section and sections 24-51-1728 to 24-51-1731 if the following conditions
are met:

(a) The employee must be an affiliate member or contributing member who
has completed a period of not less than five years of active service with the district.
Any contributing member or affiliate member who terminated employment prior to
January 1, 1997, shall be governed by the DPS plan document.

(b) Such member is not eligible to receive and has not received, by virtue of
district employment, payment of any other benefits under this retirement plan. A
refund of accumulated contributions is not deemed a benefit within the meaning of
this section.

(c) The employment of such member with the district, either regular or
casual, has been terminated and there has not been a withdrawal of the member's
accumulated contributions. In the case of a member whose employment has
terminated and who withdrew such contributions but thereafter accepted
reemployment with the district, such prohibition against withdrawal shall refer to
any normal, arrearage, or additional contributions thereafter made by such
employee.

(d) Within one year following an effective date of termination of employment
falling on or before December 31, 2008, such member must file an election and
declaration of intent to apply for a deferred retirement allowance. Such election
and declaration shall be made in the manner and form as prescribed.

(e) If a member's effective date of termination of employment falls on or
after January 1, 2009, such member is automatically deemed a deferred member
and is eligible to apply for a deferred retirement allowance upon meeting the
requirements for commencement of a deferred retirement allowance.

Legislative History

Source: L. 2009: Entire part added, (SB 09-282), ch. 288, p. 1373, � 56, effective January 1, 2010.