C.R.S. Section 31-31-704.5
Entry for social security employers

(1)(a)(I) Notwithstanding the exemption provided in section 31-31-401 (1)(a), any employer that covers members under the federal “Social Security Act”, as amended, or any county that covers salaried employees under the federal “Social Security Act”, as amended, whose duties are peace officers or firefighters as certified by the county may elect coverage under the statewide retirement plan social security supplemental component established pursuant to article 31.5 of this title 31 by filing a resolution of affiliation with the board pursuant to subsection (2) of this section. Election of coverage under the plan shall be irrevocable.

(II)

The board may allow an employer eligible for participation in the social security pursuant to subsection (1)(a)(I) of this section to alternatively elect to participate in other lifetime benefit components of the statewide retirement plan with full benefits and unreduced contribution rates. Such participation shall be as provided by rules adopted by the board. The board may determine a continuing rate of contribution for all members who are active on the effective date of coverage to fund benefits as may be necessary to ensure that the affiliating employers’ coverage shall not have an adverse financial impact on the actuarial soundness of the plan.

(b)

A county electing to affiliate with the association for the purpose of providing coverage of its peace officers or firefighters shall make such election through the county’s governing board. For purposes of administering to counties affiliated pursuant to this section, any county electing to affiliate shall be included in the definition of “employer”, as defined in section 31-31-102 (3), and any covered peace officer or firefighter of such county shall be included in the definition of “member”, as defined in section 31-31-102 (4).

(2)

The employer’s resolution applying for coverage by the association shall first be adopted by the governing body of the employer and shall state the employer’s intent to cover its members under the plan.

(3)

Any application for coverage by the association shall be approved by at least sixty-five percent of all active members employed by the employer at the time of the application who vote in the election proposing the coverage; except that no such election shall be required if:

(a)

The employer allows members to elect to remain in a predecessor plan pursuant to association rules or if the members have approved leaving a predecessor plan pursuant to section 24-54-106 (3); and

(b)

The employer designates that all future eligible employees will participate in a plan of the association.

(4)

The board shall promulgate rules relating to standards for disclosure of all ramifications and procedures for obtaining member approval pursuant to subsection (3) of this section. The board shall also promulgate rules relating to standards for granting an employer’s application for participation in the plan and for the submission of information to the board by the employer. The rules shall contain a provision specifying that an employer that opts for coverage by the association shall not be permitted to opt out of the coverage at any later date. The board may adopt rules allowing an eligible individual active employee of an affiliating department to elect to remain in a predecessor plan and not have coverage by the association.

(5)

An application for coverage by the association filed by an employer shall include the employer’s certification to the board:

(a)

That all fire and law enforcement employees who are active at the time of affiliation, except those that have elected to remain in a predecessor plan as may be allowed by rule, and all fire and law enforcement employees who are hired after affiliation as certified by the employer, will become participants in the plan and the election to participate in the plan is irrevocable; and

(b)

That the employer agrees to participate in the plan and to be bound by the terms of the plan and the decisions and actions of the board with respect to the plan.

(6)

An employer that affiliates with the association pursuant to this section shall not be prohibited from participating in other governmental pension or benefit plans to the extent allowed under the federal “Internal Revenue Code of 1986”, as amended.

(7)

Nothing contained in this section shall affect the ability of an employer to terminate social security coverage or affect the procedures for such termination.

(8)

Any employer participating in the social security component of the statewide retirement plan created pursuant to article 31.5 of this title 31 may not elect coverage under the statewide death and disability plan under part 8 of this article 31.

Source: Section 31-31-704.5 — Entry for social security employers, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-31.­pdf (accessed Oct. 20, 2023).

31‑31‑101
Legislative declaration 31‑31‑102
Definitions 31‑31‑201
Association - creation - board - organization - tax exemption 31‑31‑202
Powers and duties of the board 31‑31‑203
Fund not subject to levy 31‑31‑204
Defined benefit system 31‑31‑205
Confidentiality of members’ protected personal information 31‑31‑301
Investment funds - creation 31‑31‑302
Fund - management - investment - definitions 31‑31‑303
Fire and police members’ self-directed investment fund - management - investment 31‑31‑401
Applicability of plan 31‑31‑412
Merger into the statewide retirement plan 31‑31‑501
Withdrawal into statewide money purchase plan 31‑31‑502
Statewide money purchase plan - creation - management 31‑31‑602
Withdrawn local alternative pension plans - investment authority 31‑31‑701
Affiliation by old hire pension plans 31‑31‑704
Optional affiliation by social security employers 31‑31‑704.5
Entry for social security employers 31‑31‑705
Affiliation by volunteer pension plans 31‑31‑706
Affiliation by exempt defined benefit pension plans 31‑31‑707
Multiple plan employers 31‑31‑708
Optional affiliation by county sheriff 31‑31‑801
Definitions 31‑31‑802
Coverage 31‑31‑803
Retirement for disability 31‑31‑804
Reduction of disability benefits - definitions 31‑31‑805
Change in disability status - reexamination 31‑31‑806
Disqualification upon reemployment 31‑31‑806.5
Disability benefits - on-duty 31‑31‑807
Death of member - survivor benefits 31‑31‑807.5
Death of member - line-of-duty - survivor benefits 31‑31‑808
Reduction of survivor benefits 31‑31‑809
Termination of benefits 31‑31‑810
Employer liability - statewide standard health history form 31‑31‑811
Funding of death and disability benefits 31‑31‑812
Military leave of absence 31‑31‑813
Statewide death and disability trust fund - created 31‑31‑814
Suspension and termination of benefits for noncompliance 31‑31‑815
Amendment of plan provisions 31‑31‑901
Deferred compensation plan - definitions 31‑31‑902
Group health insurance plans 31‑31‑903
Group life insurance plans 31‑31‑904
Statewide health-care defined benefit plan - definitions 31‑31‑1101
Entry into the fire and police pension association defined benefit system 31‑31‑1104
Merger into the statewide retirement plan 31‑31‑1201
Review of award of benefits and benefit payments 31‑31‑1202
Collection of overpaid benefits 31‑31‑1203
False statement - felony
Green check means up to date. Up to date

Current through Fall 2024

§ 31-31-704.5’s source at colorado​.gov