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 contributions and interest together with matching employer contributions, calculated pursuant to the provisions of section 24-51-408 (1), that are associated with the service credit earned during the seventeenth through the twentieth years. This payment shall negate the service credit earned during those years.
Source: L. 87: Entire article R&RE, p. 1056, § 1, effective July 1. L. 88: Entire section amended, p. 969, § 1, effective April 14. L. 95: Entire section amended, p. 553, § 3, effective July 1.
Editor's note: This section is similar to former § 24-51-607 as it existed prior to 1987.
Structure Colorado Code
Article 51 - Public Employees' Retirement Association
§ 24-51-401. Employer and Member Contributions
§ 24-51-402. Unpaid Contributions for Any Member - Legislative Declaration
§ 24-51-403. Contributions Assumed and Paid by the Employer
§ 24-51-404. Combining Member Contributions
§ 24-51-405. Refund of the Member Contribution Account
§ 24-51-405.5. Direct Rollovers
§ 24-51-406. Payments From the Judicial Division
§ 24-51-408. Matching Employer Contributions
§ 24-51-409. Refund of Erroneous Member Contribution
§ 24-51-410. Anticipation of Forfeitures in Determining Plan Cost
§ 24-51-411. Amortization Equalization Disbursement
§ 24-51-413. Contribution and Annual Increase Amount Changes - Definitions
§ 24-51-414. Direct Distribution