C.R.S. Section 31-31.5-404
Social security component benefits


(1)

In calculating the retirement pension for a member who has service credit in the social security component, the benefit is the sum of the following:

(a)

One percent multiplied by the years of service credit in the social security component, not to exceed ten years of service credit, multiplied by the average of the member’s highest three years’ base salary in the social security component; plus

(b)

One and one-quarter percent multiplied by the years of service credit in the social security component in excess of ten years multiplied by the average of the member’s highest three years’ base salary in the social security component.

Source: Section 31-31.5-404 — Social security component benefits, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-31.­pdf (accessed Oct. 20, 2023).

31–31.5–101
Establishment of the statewide retirement plan - definitions
31–31.5–102
Administration of the plan - rules
31–31.5–201
Membership
31–31.5–202
Reentering and affiliating employers
31–31.5–203
Department chief - exemption by written agreement - definition
31–31.5–204
Reemployment
31–31.5–301
Defined benefit component minimum contributions
31–31.5–302
Social security component minimum contributions
31–31.5–303
Hybrid component minimum contributions
31–31.5–304
Money purchase component contributions
31–31.5–305
Continuing rates of contribution for reentry and affiliating departments
31–31.5–306
Picked-up contributions
31–31.5–307
Increased local mandatory contribution requirements
31–31.5–308
Increased local voluntary contribution requirements
31–31.5–309
Remittance of contributions to the association
31–31.5–310
Service credit purchases
31–31.5–401
Vesting and benefit eligibility
31–31.5–402
Plan funding - actuarial valuation and adjustments to maintain the actuarial soundness of the plan
31–31.5–403
Defined benefit component benefits
31–31.5–404
Social security component benefits
31–31.5–405
Hybrid component benefits
31–31.5–406
Optional survivor benefits
31–31.5–407
Minimum benefit
31–31.5–408
Late retirement
31–31.5–409
Deferred retirement option plan (DROP)
31–31.5–410
Cost of living adjustments - definitions
31–31.5–411
Refunds of member contributions
31–31.5–501
Vesting
31–31.5–502
Normal retirement age
31–31.5–503
Individual accounts - investment and account administration
31–31.5–504
Distribution of money purchase component accounts
31–31.5–601
Modification of plan by the board
Green check means up to date. Up to date

Current through Fall 2024

§ 31-31.5-404’s source at colorado​.gov