§ 31-31.5-100.3 — Definitions

Colorado § 31-31.5-100.3

• Jurisdiction: Colorado
• Title 31: Government
• Art.: Fire and Police Pension Association of Colorado Statewide Retirement Plan

Text

As used in this article 31.5, unless the context
otherwise requires:

(1) Actuarially sound means a police officers' or firefighters' pension fund
determined by the board to be receiving or scheduled to receive employer and
member contributions in each fiscal year equal to the annual contributions
actuarially determined to be necessary to pay the annual current service cost of
pension benefits attributable to active employees and to pay the annual
contribution necessary to amortize any unfunded accrued liability over a period not
to exceed forty years. The actuarial cost method to be utilized shall be the entry
age-normal cost method. The date from which unfunded liabilities shall be
amortized shall be determined pursuant to part 3 of article 30.5 of this title 31.

(2) Association means the fire and police pension association created in
section 31-31-201 (1).

(3) Board means the board of directors established as the governing body
of the fire and police pension association as provided in section 31-31-201 (2).

(4) Employer means any municipality in this state offering police or fire
protection service employing one or more members and any special district, fire
authority, or county improvement district in this state offering fire protection
service employing one or more members.

(5) Lifetime benefit components means the defined benefit component, the
social security component, and the hybrid component, as described in this article
31.5, collectively.

(6) Member means an active employee who is a full-time salaried
employee of a municipality, fire protection district, fire authority, or county
improvement district normally serving at least one thousand six hundred hours in
any calendar year and whose duties are directly involved with the provision of
police or fire protection, as certified by the member's employer. The term does not
include clerical or other personnel whose services are auxiliary to police protection,
or any volunteer firefighter, as such term is defined in section 31-30-1102 (9). For
the purpose of participation in the defined benefit component of the statewide
retirement plan pursuant to this article 31.5, or the statewide money purchase plan
pursuant to part 5 of article 31 of this title 31, but not for the purpose of
participation in the statewide death and disability plan pursuant to part 8 of article
31 of this title 31, the term may include clerical or other personnel employed by a
fire protection district, fire authority, or county improvement district, whose
services are auxiliary to fire protection. For the purpose of eligibility for disability or
survivor benefits, member includes any employee on an authorized leave of
absence.

(7) Money purchase plan or money purchase pension plan means a
retirement plan under which:

(a) The employer has a fixed obligation to make an annual contribution to the
plan;

(b) An individual account for each member is provided; and

(c) The member's benefits are based solely on the amount contributed to the
member's account and any income, expenses, gains, and losses allocated to the
member's account.

(8) Predecessor plans means the statewide defined benefit plan formerly
governed by part 4 of article 31 of this title 31, the statewide hybrid plan formerly
governed by part 11 of article 31 of this title 31, and the social security supplemental
plan formerly governed by part 7 of article 31 of this title 31.

(9) Retired member means any member who is retired, disabled, or eligible
for a benefit as provided in section 31-31.5-401.

Legislative History

Source: L. 2025: Entire section added with relocations, (SB 25-275), ch. 377, p. 2092, � 273, effective August 6.