Colorado Statutes
§ 24-51-502 — Purchased service credit
(1)A member may qualify earlier for
service retirement, reduced service retirement, or increased benefits through the
purchase of additional service credit.
(2)Service credit purchases are limited to those specified in this part 5.
(3)Service credit purchased pursuant to this part 5 by members who were
members, inactive members, or retirees on December 31, 2006, shall be subject to
the benefit provisions in effect for the existing member contribution account.
Service credit purchased pursuant to this part 5 by members who were not
members, inactive members, or retirees on December 31, 2006, shall be subject to
the benefit provisions in effect for such member at the time of the initiation of
payment of the purchase.
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Legislative History
Source: L. 87: Entire article R&RE, p. 1057, � 1, effective July 1. L. 2006: (3)
added, p. 1181, � 10, effective May 25.
Nearby Sections
15
§ 24-1-101
Legislative declaration§ 24-1-102
Short title§ 24-1-103
Head of department defined§ 24-1-106
Agencies not enumerated - continuation§ 24-1-109
Office of the governor§ 24-1-110
Principal departments§ 24-1-111
Department of state - creation§ 24-1-112
Department of the treasury - creation§ 24-1-113
Department of law - creation§ 24-1-115
Department of education - creation§ 24-1-117
Department of revenue - creation