C.R.S. Section 24-50-613
Group benefit plans reserve fund


(1)

There is hereby established the group benefit plans reserve fund. The state treasurer shall be ex officio treasurer of this fund, and the state treasurer’s general bond to the state shall cover all liabilities for acts as treasurer of the fund. The director shall remit to the treasurer for deposit in the group benefit plans reserve fund all payments received by the director for group benefit plans premium costs from employees and the state as employer. The director shall also remit to the treasurer for deposit in the group benefit plans reserve fund any payments received by the director from the carriers of group benefit plans. Such payments shall not be included in the general revenues of the state of Colorado and shall not be general assets of the state. At the end of the fiscal year, any unexpended funds shall not revert to the general fund but shall be held by the state treasurer in custodial capacity, to be used subject to direction from the director.

(2)

Intentionally left blank —Ed.

(a)

Expenditures shall be made from the group benefit plans reserve fund, upon certification by the director, for the payment of premiums, claims costs, and other administrative fees and costs associated with the group benefit plans.

(b)

In the event that the director enters into contracts or renewals for group benefit plans that are self-funded, the moneys in the group benefit plans reserve fund shall be expended only for premiums, claims costs, other administrative fees and costs associated with the group benefit plans, and for the purposes of subsection (3) of this section. The moneys in the group benefit plans reserve fund shall not be appropriated by the general assembly or expended by the director for any other purpose.

(3)

A premium stabilization reserve account shall be established within the group benefit plans reserve fund the purpose of which is to offset unexpected year-end deficits and extraordinary fluctuations in annual premiums. The moneys in the account shall not be included in the general revenues of the state and shall not be general assets of the state. The moneys in the account shall be expended for purposes of such fund and shall not be appropriated by the general assembly or expended by the director for any other purpose.

(4)

The state’s cost of administering group benefit plans, other than the costs provided for in subsection (2) of this section, is subject to annual appropriation by the general assembly based on the submission by the director of a budget request containing detailed information on current and projected administrative costs, which include, but are not limited to, personal services, operating expenses, travel expenses, utilization review, and implementation of a flexible benefits plan.

(5)

The director, from time to time, shall certify in writing to the state treasurer for investment such portions of the group benefit plans reserve fund as in the director’s judgment may not be needed for the payment of premiums and claims costs to the carriers. Such investments shall be made as determined by the state treasurer and shall be limited to those securities authorized for investment by the board of trustees of the public employees’ retirement association pursuant to section 24-51-206. Interest on the investment of the group benefit plans reserve fund shall be credited to the fund.

Source: Section 24-50-613 — Group benefit plans reserve fund, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-24.­pdf (accessed Oct. 20, 2023).

24‑50‑101
Short title - legislative declaration - terminology
24‑50‑102
Department of personnel - state personnel director
24‑50‑103
State personnel board
24‑50‑103.5
Department of personnel - review
24‑50‑104
Job evaluation and compensation - state employee reserve fund - created - study - report - definitions - repeal
24‑50‑104.5
Compliance with federal laws
24‑50‑109.5
Fiscal emergencies - emergency orders
24‑50‑110
Budget control - personal services
24‑50‑112.5
Selection system - definitions - rules - report - repeal
24‑50‑114
Temporary appointments - term - tenure
24‑50‑116
Standards of performance and conduct
24‑50‑117
Prohibited activities of employees
24‑50‑122
Opportunities for training - professional development center cash fund - creation - rules
24‑50‑123
Grievances - review
24‑50‑124
Reduction of employees - definition
24‑50‑125
Disciplinary proceedings - appeals - hearings - procedure - definitions
24‑50‑125.3
Discrimination appeals
24‑50‑125.4
Hearings
24‑50‑125.5
Recovery for improper personnel action
24‑50‑126
Resignation - procedure and effect
24‑50‑127
Employee records - release of location information concerning individuals with outstanding felony arrest warrants - state personnel director’s duties
24‑50‑128
Certification required before salary paid
24‑50‑129
Appointing authority’s salary liability
24‑50‑130
Form of records and reports
24‑50‑131
Subpoena powers
24‑50‑132
Political considerations and prohibited activities
24‑50‑133
Subversive acts - disqualification
24‑50‑134
Moving and relocation expenses
24‑50‑135
Exemptions from personnel system
24‑50‑136
Persons brought into the personnel system
24‑50‑137
Persons holding exempted positions
24‑50‑138
Effect of transfer of powers, duties, and functions
24‑50‑140
Reports on other employment systems
24‑50‑141
Rules and regulations - limitations - affirmative action corrective remedies - implementation
24‑50‑142
Repayment of debts to state-supported institutions of higher education by state employees
24‑50‑145
Agency-based human resource innovation and management processes - legislative declaration - definitions - guidelines and goals
24‑50‑146
Colorado statewide equity office - legislative declaration
24‑50‑201
Legislative declaration
24‑50‑203
Preretirement education and counseling
24‑50‑206
Cooperation of public employees’ retirement association
24‑50‑208
Voluntary separation incentive program
24‑50‑301
Status while in military service
24‑50‑302
Rights
24‑50‑303
No compensation - rights of National Guard
24‑50‑304
Applicability
24‑50‑401
Office hours of state offices
24‑50‑402
Appointment by outgoing officers prohibited
24‑50‑501
Legislative declaration
24‑50‑502
Definitions
24‑50‑503
Personal services contracts implicating state personnel system - no separation of existing classified employees
24‑50‑504
Personal services contracts not implicating state personnel system
24‑50‑505
Liability and immunity
24‑50‑506
Applicability of other laws
24‑50‑507
Conflict of interest
24‑50‑508
Intergovernmental agreements - agreements by state institutions of higher education - excluded
24‑50‑509
Review of individual contracts by state personnel director - when not required
24‑50‑511
State personnel director procedures
24‑50‑512
State personnel board rules
24‑50‑513
Contracts of six months or less - permitted
24‑50‑601
Short title
24‑50‑602
Legislative declaration
24‑50‑603
Definitions
24‑50‑604
Powers and duties of the director
24‑50‑605
Group benefit plans - specifications - contracts
24‑50‑607
Employees - eligibility - election of coverage
24‑50‑608
Dependents - eligibility - election of coverage
24‑50‑609
State contributions - supplemental state contribution fund - creation
24‑50‑609.5
Supplemental state contribution for eligible state employees - legislative declaration - definitions
24‑50‑610
Payroll deductions - employees
24‑50‑611
Employer payments
24‑50‑612
Administrative duties
24‑50‑613
Group benefit plans reserve fund
24‑50‑614
State payments - authority of controller
24‑50‑615
Continuation of previously existing benefits for persons absorbed by the state personnel system
24‑50‑618
Group benefit plans - institutions of higher education
24‑50‑619
Continuation of dental or medical benefits - dependents of state employee - work-related death - definitions
24‑50‑620
Targets for investment in primary care
24‑50‑801
Legislative declaration
24‑50‑802
Definitions
24‑50‑804
Development of recommendations for an employee incentive program
24‑50‑805
Institutions of higher education - alternative employee incentive programs
24‑50‑901
Legislative declaration
24‑50‑902
Definitions
24‑50‑903
State employee idea application
24‑50‑1001
Definitions
24‑50‑1002
State agencies with access to federal tax information - authorization for background checks - procedure - costs
24‑50‑1003
County departments with access to federal tax information - authorization for background checks - procedure - costs
24‑50‑1004
State agencies sharing federal tax information with other state agencies
24‑50‑1101
Short title
24‑50‑1102
Definitions
24‑50‑1103
Duties and responsibilities of the division - rules
24‑50‑1104
Duties and responsibilities of the director - rules
24‑50‑1105
Partnership units
24‑50‑1106
Covered employees’ choice of certified employee organization - rules
24‑50‑1107
Rights of covered employees
24‑50‑1108
Rights of certified employee organizations
24‑50‑1109
Duties of the certified employee organization
24‑50‑1110
Executive and management rights
24‑50‑1111
Duties of the state
24‑50‑1112
Partnership agreements
24‑50‑1113
Dispute resolution
24‑50‑1114
Maintenance of the partnership relationship
24‑50‑1115
Judicial review
24‑50‑1116
Construction of other laws
24‑50‑1117
Implementation and administration - costs
24‑50‑1201
Short title
24‑50‑1202
Legislative declaration - intent
24‑50‑1203
Definitions
24‑50‑1204
Competitive pharmacy benefit manager - contract - requirements
Green check means up to date. Up to date

Current through Fall 2024

§ 24-50-613’s source at colorado​.gov