Colorado § 31-30.5-803 Investment authority

Colorado Statutes

§ 31-30.5-803 — Investment authority

Colorado § 31-30.5-803

Title 31Government

Art.Fire - Police - Old Hire Pension Plans

This text of Colorado § 31-30.5-803 (Investment authority) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 31-30.5-803 (2026).

Text

(1)Except as provided in subsection (2) of this section, moneys of exempt alternative plans that are not affiliated with the fire and police pension association under section 31-31-706 may be managed and invested by the trustees of such plans pursuant to the standard and other provisions for trustees set forth in the Colorado Uniform Prudent Investor Act, article 1.1 of title 15, C.R.S. Such investments shall be audited at least biennially.

(2)(a) (Deleted by amendment, L. 97, p. 10, � 2, effective March 13, 1997.)

(b)The trustees of an exempt alternative plan may allow a participant to exercise control of the investment of the participant's accrued benefit under the plan, subject to the following requirements:

(I)The trustees shall select at least three investment alternativ

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(1) Except as provided in subsection (2)
of this section, moneys of exempt alternative plans that are not affiliated with the
fire and police pension association under section 31-31-706 may be managed and
invested by the trustees of such plans pursuant to the standard and other
provisions for trustees set forth in the Colorado Uniform Prudent Investor Act,
article 1.1 of title 15, C.R.S. Such investments shall be audited at least biennially.

(2) (a) (Deleted by amendment, L. 97, p. 10, � 2, effective March 13, 1997.)

(b) The trustees of an exempt alternative plan may allow a participant to
exercise control of the investment of the participant's accrued benefit under the
plan, subject to the following requirements:

(I) The trustees shall select at least three investment alternatives, each of
which is diversified in itself, that allow the participant a broad range of investments
and a meaningful choice between risk and return in the investment of the
participant's accrued benefit;

(II) The trustees shall allow the participant to change investments at least
once each calendar quarter; and

(III) The trustees shall provide the participant with information describing the
investment alternatives and the nature, investment performance, fees, and
expenses of the investment alternatives and other information to enable a
participant to make informed investment decisions.

(c) Neither the state nor local governments shall be held responsible to pay
for any or all financial losses experienced by participants of the exempt alternative
plan; except that nothing in this section relieves a local government's responsibility
as a trustee to the plan.

Legislative History

Source: L. 96: Entire article added with relocations, p. 892, � 1, effective May 23. L. 97: Entire section amended, p. 10, � 2, effective March 13. L. 2004: (1) amended, p. 1204, � 74, effective August 4. L. 2010: (1) amended, (SB 10-024), ch. 20, p. 90, � 3, effective August 11.