§ 24-51-908 — Survivor benefits

Colorado § 24-51-908

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

Text

(1) Survivor benefits paid to a cobeneficiary
pursuant to the provisions of section 24-51-906 (1)(a) shall be calculated in the
same manner as option 3 benefits pursuant to the provisions of section 24-51-910.
Survivor benefits paid to a surviving spouse pursuant to the provisions of section
24-51-905 (2)(a) shall be calculated in the same manner as option 3 benefits
pursuant to the provisions of section 24-51-910, and if the deceased vested inactive
member had at least twenty-five years of service credit and was eligible for a
retirement benefit on or before January 1, 2011, such benefits shall be increased by
the annual increase specified in sections 24-51-1001 to 24-51-1003, from the date of
termination of membership or July 1, 1993, whichever is later, to the date benefits
commence.

(2) Survivor benefits paid to spouses pursuant to the provisions of section
24-51-906 (1)(b) shall be calculated in the same manner as either option 3 benefits,
pursuant to the provisions of section 24-51-910, or as surviving spouse's benefits
pursuant to the provisions of section 24-51-909, upon the irrevocable election of
such spouse.

(3) Survivor benefits paid to spouses pursuant to the provisions of section
24-51-905 (1)(b) shall be calculated in the same manner as:

(a) Surviving spouse's benefits, pursuant to the provisions of section 24-51-909, or option 3 benefits if the deceased member had ten years of service credit or
the death of the member was job-related; or

(b) Surviving spouse's benefits, pursuant to the provisions of section 24-51-909, if the deceased member did not have ten years of service credit and the death
of the member was not job-related.

(4) Survivor benefits paid to qualified children pursuant to the provisions of
section 24-51-905 (1)(a) or (1)(c) or 24-51-906 (1)(c) shall be forty percent of the
highest average salary of the deceased member if paid to one child or fifty percent
of the highest average salary of the deceased member, divided equally, if paid to
two or more children. The minimum survivor benefit paid to such children shall be
one hundred dollars each if one or two children qualify or two hundred fifty dollars,
divided equally, if three or more children qualify, regardless of the highest average
salary of the deceased member.

(5) Survivor benefits paid to dependent parents pursuant to the provisions of
section 24-51-905 (1)(d) or 24-51-906 (1)(d) shall be equal to twenty-five percent of
the highest average salary of the deceased member if one parent qualifies or forty
percent of the highest average salary of the deceased member, divided equally, if
two parents qualify. The minimum survivor benefit paid to such parents shall be one
hundred dollars to each dependent parent, regardless of the highest average salary
of the deceased member.

Legislative History

Source: L. 87: Entire article R&RE, p. 1068, � 1, effective July 1. L. 88: (1) amended, p. 962, � 14, effective July 1. L. 90: (4) and (5) amended, p. 1252, � 3, effective July 1. L. 93: (1) amended, p. 477, � 4, effective July 1. L. 2010: (1) amended, (SB 10-001), ch. 2, p. 17, � 18, effective January 1, 2011.