In the event of dissolution, for any reason, of fire departments whereby the services of firefighters or fire departments are discontinued, the firefighters or their surviving spouses, dependent parents, and children receiving benefits at the time of such dissolution shall continue to receive such benefits in accordance with the provisions of this article. Assets of the pension funds shall be transferred with other assets of the department and shall be administered by the board of trustees of the successor pension fund. In no event shall the rate of compensation be altered either after commencement of proceedings for dissolution has occurred or after its completion. After attaining fifty years of age, any firefighter having accrued ten or more years of active service at the time of such dissolution shall be granted an annuity, prorated in accordance with the number of years of service and the amount of annuity being paid for age and service pensions by the board of trustees of such pension fund at the time of such dissolution.
Source: L. 96: Entire article added with relocations, p. 867, § 1, effective May 23.
Editor's note: This section was formerly numbered as § 31-30-415 (9).
Structure Colorado Code
Title 31 - Government - Municipal
Article 30.5 - Fire - Police - Old Hire Pension Plans
§ 31-30.5-202. Board of Trustees - Firefighters' Old Hire Pension Fund
§ 31-30.5-203. Board of Trustees - Police Officers' Old Hire Pension Fund
§ 31-30.5-204. Powers and Duties of the Board
§ 31-30.5-205. Attorneys to Advise
§ 31-30.5-207. Method of Payment
§ 31-30.5-208. Fund Not Subject to Levy
§ 31-30.5-211. Affiliation With the Fire and Police Pension Association
§ 31-30.5-212. Qualification Requirements - Internal Revenue Code - Definitions