C.R.S.
Section 24-51-801
Benefit options
(1)
Any member applying for service retirement or disability retirement may elect to receive a monthly retirement benefit paid in accordance with any one of the following options:(a)
Option 1.(b)
Option 2.(c)
Option 3.(d)
Repealed.(2)
Options 2 and 3 shall be the actuarial equivalent of option 1.(3)
If an option is not elected by a member prior to the effective date of retirement, the member shall be deemed to have elected option 1.(4)
Benefits calculated pursuant to part 17 of this article shall be subject to the benefit payment options provided in sections 24-51-1716 to 24-51-1725.(5)
Intentionally left blank —Ed.(a)
Upon the termination of a supplemental needs trust due to the death of the beneficiary of such trust prior to the death of the retiree, an option 1 benefit becomes payable to the retiree.(b)
If a supplemental needs trust is determined to be invalid or is terminated during the life of the retiree, the beneficiary that was named in the trust is the cobeneficiary.(c)
If a supplemental needs trust is not established before or within ninety days after the death of the retiree, is determined to be invalid, or is terminated on or after the death of the retiree, the beneficiary that was named in the trust is the cobeneficiary.
Source:
Section 24-51-801 — Benefit options, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-24.pdf
(accessed Oct. 20, 2023).