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§ 31-30.5-701. Coverage

The provisions of this part 7 governing the benefits payable in the event of the death or disability of an active old hire member shall apply with respect to any such member who dies or becomes disabled prior to January 1, 1980. The provisions of this part 7 governing the benefits payable in the event […]

§ 31-30.5-305. No Change in Employer Obligation

It is the intention of the general assembly that the minimum funding standards established by this part 3 shall not enlarge nor diminish the obligation of municipalities and fire protection districts to their employees for pension benefits provided pursuant to this article. Source: L. 96: Entire article added with relocations, p. 873, § 1, effective […]

§ 31-30.5-306. Actuarial Studies

An actuarial study of each old hire police officers’ and firefighters’ pension fund administered by the association shall be conducted not later than July 1, 2014, and an updated actuarial study shall be conducted by the association every two years thereafter until the plan is terminated. The association shall designate actuaries or firms of actuaries […]

§ 31-30.5-307. State Contribution

(Deleted by amendment, L. 2014.) 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 […]

§ 31-30.5-401. Sources of Revenue for Fund

Except for state-assisted old hire police officers’ and firefighters’ pension plans and those affiliated with the fire and police pension association pursuant to section 31-31-701, each old hire pension fund may consist of: All moneys that may be given to such board or fund by any person for the use and purpose for which such […]