C.R.S. Section 31-30.5-601
Police officers’ old hire pension plans

  • municipalities under one hundred thousand in population

(1)

In municipalities having a population of less than one hundred thousand and making contributions from general funds into the police officers’ old hire pension fund of their respective municipalities, any old hire member of such police department who has reached the age of fifty-five years and who has served for a period of twenty years in any such department in the state of Colorado or who in the alternative has completed twenty-five years in any such department in the state of Colorado, regardless of age, is entitled to a monthly pension equal to one-half the amount of the average salary the member received as a member of said department for one year before the time of granting the member’s application. Such payment shall be made regardless of income or earnings that the said retired old hire member receives from any source.

(2)

In municipalities having a population of less than one hundred thousand and not making contributions into their respective police officers’ old hire pension fund, any old hire member of the police department who has reached the age of sixty years and who has served for a period of twenty years in any such department in the state of Colorado is entitled to a monthly pension equal to one-half of the amount of the average salary the member received as a member of said department for one year before the time of granting the member’s application. If, thereafter, such member accepts a salaried position paying a salary of sixty dollars or more per month, the payment of the member’s pension shall be suspended during the period the member holds such position.

Source: Section 31-30.5-601 — Police officers’ old hire pension plans - municipalities under one hundred thousand in population, 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

§ 31-30.5-601’s source at colorado​.gov