C.R.S. Section 31-30.5-307
State contribution

(1)(a)(Deleted by amendment, L. 2014.)(b)(I) Each employer having rank escalation and having old hire members shall determine for each such employee the percentage that such employee’s years served as of January 1, 1980, bear to the total number of years required for retirement. At retirement, the retirement pension shall be divided into that percentage and the remainder. The portion of the retirement pension equal to that percentage earned as of January 1, 1980, shall be subject to rank escalation as provided under the old hire pension plan, and the remainder of the retirement pension shall be subject to the same adjustment as that determined by the fire and police pension association board of directors pursuant to section 31-31-407.

(II)

An employer may elect to continue full rank escalation benefits for that portion of the retirement pension subject to the adjustment as provided in subparagraph (I) of this paragraph (b), but no state contribution shall be used to fund such continuation of rank escalation or any unfunded liabilities incurred as a result of such continuation of rank escalation.
(c)(Deleted by amendment, L. 2014.)(d) Repealed.

(2)

Intentionally left blank —Ed.

(a)

Moneys transferred from the state treasurer as state assistance to the old hire plan members’ benefit trust fund shall not revert to the general fund but are continuously available for the purposes provided in this part 3 and part 11 of article 30 of this title.

(b)

No other transfers for state assistance to the old hire plans shall be made to the old hire plan members’ benefit trust fund pursuant to this section.

(2.5)

Repealed.

(3)

to (6)(Deleted by amendment, L. 2014.)

Source: Section 31-30.5-307 — State contribution, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-31.­pdf (accessed Oct. 20, 2023).

31‑30.5‑101
Legislative declaration 31‑30.5‑102
Definitions 31‑30.5‑103
Applicability 31‑30.5‑201
Funds created 31‑30.5‑202
Board of trustees - firefighters’ old hire pension fund 31‑30.5‑203
Board of trustees - police officers’ old hire pension fund 31‑30.5‑204
Powers and duties of the board 31‑30.5‑205
Attorneys to advise 31‑30.5‑206
Warrants drawn 31‑30.5‑207
Method of payment 31‑30.5‑208
Fund not subject to levy 31‑30.5‑209
Idle funds 31‑30.5‑210
Plan amendment 31‑30.5‑211
Affiliation with the fire and police pension association 31‑30.5‑212
Qualification requirements - internal revenue code - definitions 31‑30.5‑213
Dissolution of fire departments 31‑30.5‑301
Legislative declaration 31‑30.5‑302
Definitions 31‑30.5‑304
Limitation on existing funds - procedures 31‑30.5‑305
No change in employer obligation 31‑30.5‑306
Actuarial studies 31‑30.5‑307
State contribution 31‑30.5‑401
Sources of revenue for fund 31‑30.5‑402
Municipalities under fifty thousand - limit of contributions to old hire police officers’ pension plans 31‑30.5‑403
Employers under one hundred thousand - limit of contributions to old hire firefighter pension plans 31‑30.5‑404
Plans affiliated with the fire and police pension association 31‑30.5‑501
Old hire pension fund - investments 31‑30.5‑502
Insurance - investment by banks and trust companies 31‑30.5‑503
Alternative investment authority 31‑30.5‑601
Police officers’ old hire pension plans - municipalities under one hundred thousand in population 31‑30.5‑602
Firefighters’ old hire pension plans - municipalities and districts under one hundred thousand in population 31‑30.5‑603
Police officers’ old hire pension plans - municipalities of at least one hundred thousand in population 31‑30.5‑604
Firefighters’ old hire pension plans - municipalities of at least one hundred thousand in population 31‑30.5‑701
Coverage 31‑30.5‑702
Police officers’ old hire pension plans - municipalities under one hundred thousand in population 31‑30.5‑703
Firefighters’ old hire pension plans - municipalities and districts under one hundred thousand in population 31‑30.5‑704
Police officers’ old hire pension plans - municipalities of at least one hundred thousand in population 31‑30.5‑705
Firefighters’ old hire pension plans - municipalities of at least one hundred thousand in population 31‑30.5‑801
Exempt alternative programs authorized 31‑30.5‑802
Exempt money purchase plan option 31‑30.5‑803
Investment authority
Green check means up to date. Up to date

Current through Fall 2024

§ 31-30.5-307’s source at colorado​.gov