§ 31-30-1122 — Retirement pension

Colorado § 31-30-1122

• Jurisdiction: Colorado
• Title 31: Government
• Art.: Fire - Police

Text

(1) The board of a municipality, with the
prior consent of the municipality's governing body, or the board of a fire protection
district or county improvement district may pay a retirement pension to a volunteer
firefighter who has twenty years of active service and who is over the age of fifty
years. The retirement pension shall be an amount determined by the board of not
more than one hundred dollars per month, unless an actuarial review indicates a
higher payment is actuarially sound; except that any such amount determined by
the board of a municipality shall be made with the prior consent of the
municipality's governing body. Pensions that make payments in excess of three
hundred dollars per month are subject to the state contribution limitation specified
in section 31-30-1112 (2)(b). Except as provided in section 31-30-1132, a volunteer
firefighter shall not receive a retirement pension for service in a fire department
while the firefighter is an active member of that department. A volunteer firefighter
shall maintain a minimum training participation in the fire department of thirty-six
hours each year to qualify for retirement benefits. A volunteer firefighter who has
served twenty years and who has not reached the age of fifty years may be granted
a leave of absence and retain all rights to a retirement pension and is entitled to the
retirement pension when the firefighter is fifty years of age.

(2) Notwithstanding subsection (1) of this section, the board may pay a
retirement pension to a volunteer firefighter who has less than twenty years of
active service if the municipality's or district's fund is actuarially sound. The board
shall determine the period of active service necessary to qualify for this retirement
pension, but in no event shall such period be less than ten years of active service.
The board shall not pay this retirement pension until the volunteer firefighter is fifty
years of age. The amount of this retirement pension shall be determined by
prorating the amount of the retirement pension under subsection (1) of this section
based on the volunteer firefighter's years of service.

(3) Whenever the board increases the retirement pension benefit payable
pursuant to subsection (1) of this section, such increase may also be applied to the
pension benefit of any retired volunteer firefighter receiving the pension benefit
specified in subsection (1) of this section at the time of such increase. The
applicable pro rata share of any such increase, based upon the number of years of
service, may also be applied to the pension benefit of any retired volunteer
firefighter receiving the pension benefit specified in subsection (2) of this section at
the time of such increase. Whenever the board elects to apply any retirement
pension increase permitted under this subsection (3), the board shall apply such
increase to the retirement pension of all retired volunteer firefighters in a fire
department who are eligible for such increase under this subsection (3). Any
actuarial review required under subsection (1) of this section shall include the cost
of any retirement pension increase permitted under this subsection (3).

Legislative History

Source: L. 95: Entire part added, p. 1374, � 2, effective June 5. L. 97: (1) amended, p. 169, � 2, effective March 28; (3) added, p. 968, � 1, effective May 22. L. 98: (1) and (2) amended, p. 64, � 2, effective March 23; (1) amended, p. 808, � 3, effective May 26.