Colorado § 31-31.5-410 Cost of living adjustments - definitions

Colorado Statutes

§ 31-31.5-410 — Cost of living adjustments - definitions

Colorado § 31-31.5-410

Title 31Government

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

This text of Colorado § 31-31.5-410 (Cost of living adjustments - definitions) 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. § 31-31.5-410 (2026).

Text

(1)Cost of living adjustments payable under the lifetime benefit components of the plan, if any, may be paid effective October 1 each year. To be eligible to receive a cost of living adjustment, the benefits must have been paid for at least twelve calendar months prior to the effective date of the cost of living adjustment. Subject to the limits set forth in subsection (2) of this section, the board has the authority to determine the form in which a cost of living adjustment may be paid. This includes the frequency of payment, whether the payment is compounded or noncompounded, and any other form in which to pay a cost of living adjustment.

(2)(a) Any cost of living adjustment made pursuant to subsection (1) of this section shall be determined by the board in its discretion as

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(1) Cost of living
adjustments payable under the lifetime benefit components of the plan, if any, may
be paid effective October 1 each year. To be eligible to receive a cost of living
adjustment, the benefits must have been paid for at least twelve calendar months
prior to the effective date of the cost of living adjustment. Subject to the limits set
forth in subsection (2) of this section, the board has the authority to determine the
form in which a cost of living adjustment may be paid. This includes the frequency
of payment, whether the payment is compounded or noncompounded, and any
other form in which to pay a cost of living adjustment.

(2) (a) Any cost of living adjustment made pursuant to subsection (1) of this
section shall be determined by the board in its discretion as a fiduciary of the
statewide retirement plan after considering the funding level of the lifetime benefit
components, the cost of the adjustment, the components' ability to fund future
benefits, and any other factors that the board deems appropriate. The cost of living
adjustment shall not exceed the greater of:

(I) One hundred three percent of the benefits paid for the prior twelve-month
period; or

(II) The benefits paid during the prior twelve-month period multiplied by a
fraction using the consumer price index for the immediately preceding calendar
year as the numerator and the consumer price index for the calendar year prior to
the immediately preceding calendar year as the denominator.

(b) As used in this section, consumer price index means the national
consumer price index for urban wage earners and clerical workers prepared by the
United States department of labor.

Legislative History

Source: Entire article added, (HB 22-1034), ch. 61, p. 293, � 1, effective August 10. L. 2023: (1) and IP(2)(a) amended, (HB 23-1106), ch. 34, p. 116, � 1, effective August 7.