and (1.5) Repealed. (1.6) For the purposes of sections 24-51-401 to 24-51-404 and sections 24-51-405.5 , 24-51-409 , and 24-51-411 , the term “member” shall include DPS members and the term “retiree” shall include DPS retirees. (1.7) (a) (I) Employers shall deliver a contribution report and the full amount of employer contributions, member contributions, and […]
The general assembly hereby finds and declares that: The litigation of disputes regarding the payment of contributions by employers to the public employees’ retirement association represents an inappropriate allocation of public moneys. Courts already suffer from overcrowded dockets, and the use of judicial resources to resolve such disputes means that taxpayers foot the bill for […]
For purposes of deferring federal income tax imposed on salary, the member contributions and the working retiree contributions assumed and paid for by the employer shall be in lieu of paying such amounts as salary and shall be treated as employer contributions pursuant to the provisions of 26 U.S.C. sec. 414 (h)(2), as amended. For […]
Any member whose previous member contribution account has not been refunded shall be credited with such member contributions in said account upon a resumption of membership. Notwithstanding the provisions of this section, members exercising portability between the Denver public schools division and the other association divisions shall be governed by the provisions of section 24-51-1747. […]
Subject to portability, any member who terminates membership for any reason other than retirement or death may request a refund of all moneys credited to the member contribution account and payment of matching employer contributions if said member has not resumed membership. Upon request, a refund shall be made by the association within ninety days […]
Notwithstanding any other provision of this article, effective January 1, 1993, a terminated member, a surviving spouse, or a named beneficiary may elect to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan in a direct rollover in accordance with section 401 (a)(31) of the federal “Internal Revenue Code […]
Any member of the judicial division who was a member of that division on or before July 1, 1973, and who retires from the judicial division with more than sixteen years of service credit may elect prior to retirement to receive, within ninety days following the effective date of retirement, a payment of the member […]
Member contributions shall earn interest beginning with the date of the first contribution, and, on succeeding balances, from the date of the first contribution through either the date the member contribution account is refunded and matching employer contributions are paid, the date a single payment is paid to the beneficiary, the date survivor benefits become […]
For members who receive a benefit or who receive a refund payable after meeting the age and service requirements for a service or reduced service retirement benefit, or for payments made to survivors or beneficiaries of members who die before retirement, matching employer contributions shall be an amount equal to the member contribution account less: […]
For any member who makes a voluntary contribution to any eligible tax-deferred retirement program, the employer shall make a matching contribution on such voluntary contribution to the eligible tax-deferred retirement program subject to the provisions of this section. A member of the defined contribution plan pursuant to part 15 of this article shall not be […]
It is the intent of the general assembly that the association consider the payment of interest on any erroneous contribution made to a member contribution account and later refunded to the member. It is the further intent of the general assembly that, if the member was intentionally and actively involved in an erroneous contribution with […]
Any benefits forfeited upon a termination of membership in the association shall be anticipated in determining the cost of the plan. Source: L. 97: Entire section added, p. 64, § 6, effective July 1.
Beginning January 1, 2006, each employer shall deliver to the association an amortization equalization disbursement and, beginning January 1, 2008, a supplemental amortization equalization disbursement pursuant to the same procedures specified for employer contributions in section 24-51-401 (1.7). For the calendar year beginning January 1, 2006, the amortization equalization disbursement shall be one-half of one […]
The general assembly hereby finds and declares that: The Denver public schools has ongoing payment obligations related to certain pension certificates of participation that were issued in 1997 and 2008, referred to in this section as “PCOPS”; Proceeds of the PCOPS were contributed to the Denver public schools retirement system trust fund, resulting in a […]
As used in this section, unless the context otherwise requires: “Blended total contribution amount” means the weighted average of the total amounts paid by the employer and the member to the association for each of the five divisions pursuant to sections 24-51-401 (1.7) and 24-51-411, and the amount the association receives pursuant to section 24-51-414, […]
On July 1, 2018, on July 1, 2019, on July 1, 2021, and on July 1 each year thereafter until there are no unfunded actuarial accrued liabilities of any division of the association that receives the distribution pursuant to this section, the state treasurer shall issue a warrant to the association in an amount equal […]
Beginning January 1, 2021, and every year thereafter, employer contribution rates will be adjusted to include a defined contribution supplement, which will be calculated separately for the state and local government divisions, as applicable. The defined contribution supplement for each division will be the employer contribution amount paid to defined contribution plan participant accounts that […]
The PERA payment cash fund, referred to in this section as the “fund”, is hereby created in the state treasury. The fund consists of money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the […]
