If the association is terminated or partially terminated for any reason, the rights of all members and former members affected thereby to benefits accrued and funded to the date of termination shall become nonforfeitable. Any distribution of assets shall be conducted in accordance with requirements of the federal "Internal Revenue Code of 1986", as amended.
Source: L. 87: Entire article R&RE, p. 1052, § 1, effective July 1. L. 2009: Entire section amended, (SB 09-282), ch. 288, p. 1338, § 13, effective January 1, 2010.
Editor's note: This section is similar to former § 24-51-148 as it existed prior to 1987.
Structure Colorado Code
Article 51 - Public Employees' Retirement Association
§ 24-51-201. Public Employees' Retirement Association - Creation
§ 24-51-202. Board of Trustees - Creation
§ 24-51-203. Board - Composition and Election
§ 24-51-204. Duties of the Board
§ 24-51-205. General Authority of the Board
§ 24-51-207. Standard of Conduct
§ 24-51-208. Allocation of Moneys
§ 24-51-210. Allocation of Assets and Liabilities
§ 24-51-211. Amortization of Liabilities
§ 24-51-211.5. Notice of Possible Change in Benefits - Actuarial Necessity
§ 24-51-212. Funds Not Subject to Legal Process
§ 24-51-214. Benefits Not Offset by Workers' Compensation Benefits
§ 24-51-215. Insurance and Banking Laws Not Applicable
§ 24-51-220. Report to General Assembly
§ 24-51-221. Information Provided to Employer - Salary Definition