Colorado § 24-51-415 Defined contribution supplement

Colorado Statutes

§ 24-51-415 — Defined contribution supplement

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

Beginning January 1, 2021,
and every year thereafter, employer contribution rates will be adjusted to include a
defined contribution supplement, which will be calculated separately for the state
and local government divisions, as applicable. The defined contribution supplement
for each division will be the employer contribution amount paid to defined
contribution plan participant accounts that would have otherwise gone to the
defined benefit trusts to pay down the unfunded liability, plus any defined benefit
investment earnings thereon, expressed as a percentage of salary on which
employer contributions have been made. The employer contribution amounts in the
sum shall only include contributions made on behalf of eligible employees, as
defined in section 24-51-1500.3, who commenc

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Beginning January 1, 2021,
and every year thereafter, employer contribution rates will be adjusted to include a
defined contribution supplement, which will be calculated separately for the state
and local government divisions, as applicable. The defined contribution supplement
for each division will be the employer contribution amount paid to defined
contribution plan participant accounts that would have otherwise gone to the
defined benefit trusts to pay down the unfunded liability, plus any defined benefit
investment earnings thereon, expressed as a percentage of salary on which
employer contributions have been made. The employer contribution amounts in the
sum shall only include contributions made on behalf of eligible employees, as
defined in section 24-51-1500.3, who commence employment on or after January 1,
2019.

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Legislative History

Source: L. 2018: Entire section added, (SB 18-200), ch. 370, p. 2247, � 12, effective June 4. L. 2025: Entire section amended, (SB 25-275), ch. 377, p. 2070, � 183, effective August 6.