§ 31-31.5-202 — Reentering and affiliating employers

Colorado § 31-31.5-202

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

Text

(1) Members of
employers who reenter or affiliate pursuant to part 7 or part 11 of article 31 of this
title 31 shall participate in the statewide retirement plan beginning on the
employer's effective date pursuant to rules adopted by the board.

(2) Members covered by subsection (1) of this section may elect a trustee-to-trustee transfer in order to transfer assets from the predecessor money purchase
plan to the member's individual account established pursuant to part 5 of this
article 31.5.

(3) An active member who is required to transfer money purchase assets to
the statewide retirement plan may also elect to convert the vested proceeds from
the predecessor money purchase plan into service credit towards the accrual of
benefits under the lifetime benefit components as may be allowed pursuant to the
board's rules.

Legislative History

Source: Entire article added, (HB 22-1034), ch. 61, p. 283, � 1, effective August 10.