Colorado § 31-31.5-406 Optional survivor benefits

Colorado Statutes

§ 31-31.5-406 — Optional survivor benefits

Colorado § 31-31.5-406

Title 31Government

Art.Fire and Police Pension Association of Colorado Statewide Retirement Plan

This text of Colorado § 31-31.5-406 (Optional survivor benefits) 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. § 31-31.5-406 (2026).

Text

(1)A member eligible for a normal, late, or early retirement pension may elect to receive a reduced pension payable to the member and, upon the member's death a reduced benefit to the member's designated beneficiary. The board shall establish such options by rule in a manner that provides for an actuarial equivalent benefit of the normal or early retirement pension otherwise payable.

(2)If a member reaches age eligibility for a normal, vested, or early retirement pension, and dies before making an election allowed pursuant to subsection (1) of this section or before the first pension payment has been deposited, and is survived by a spouse, dependent child, or designated beneficiary, the member shall be considered to have elected an actuarially reduced pension and retired on th

Free access — add to your briefcase to read the full text and ask questions with AI

(1) A member eligible for a normal,
late, or early retirement pension may elect to receive a reduced pension payable to
the member and, upon the member's death a reduced benefit to the member's
designated beneficiary. The board shall establish such options by rule in a manner
that provides for an actuarial equivalent benefit of the normal or early retirement
pension otherwise payable.

(2) If a member reaches age eligibility for a normal, vested, or early
retirement pension, and dies before making an election allowed pursuant to
subsection (1) of this section or before the first pension payment has been
deposited, and is survived by a spouse, dependent child, or designated beneficiary,
the member shall be considered to have elected an actuarially reduced pension and
retired on the day before the member's death. Payable to the members spouse,
dependent child, or designated beneficiary, such reduced pension shall be payable
to the member's designated beneficiary. A spouse, dependent child, or designated
beneficiary of a member who has not yet reached age eligibility may elect to
receive an actuarially reduced benefit beginning on the date that the member
would have reached age eligibility in lieu of a death benefit under part 8 of article
31 of this title 31 and in lieu of a refund of member contributions pursuant to section
31-31.5-411.

Legislative History

Source: Entire article added, (HB 22-1034), ch. 61, p. 292, � 1, effective August 10. L. 2023: (2) amended, (HB 23-1301), ch. 303, p. 1841, � 78, effective August 7.