Colorado § 24-51-1601 - Deferred compensation plan and trust fund.
Full text of Colorado Colorado Revised Statutes § 24-51-1601 — Deferred compensation plan and trust fund., with citation guidance and answers to common questions.
§ 24-51-1601. Deferred compensation plan and trust fund.
(1) Effective July 1, 2009, the state deferred compensation committee established pursuant to section 24-52-102, as said section existed prior to its repeal in 2009, shall be abolished, and the board shall assume the administration of and fiduciary responsibility for the state deferred compensation plan previously administered under part 1 of article 52 of title 24, as said part existed prior to its repeal in 2009. The board shall have the authority to set the terms and conditions of the deferred compensation plan.
(2) The board shall establish, as set forth in section 24-51-208 (1)(j), a deferred compensation plan trust fund to hold the assets of the deferred compensation plan.
(3) The trust fund shall be established under section 24-51-208 (1)(j), effective upon transfer of assets of the deferred compensation plan to the trust fund. The board shall be trustee of the trust fund. No part of the assets and income of the trust fund shall be used for or diverted to purposes other than for the exclusive benefit of participants and their beneficiaries prior to the satisfaction of liabilities with respect to participants and their beneficiaries.
(4) The department of personnel created in section 24-1-128 shall provide for the orderly transfer of all records pertaining to the state deferred compensation plan and the state defined contribution match plan and shall take any other action necessary for the board to assume its duties under this part 16.
Source: L. 2009: Entire part added, (SB 09-066), ch. 73, p. 258, § 22, effective March 31. L. 2025: (2) amended, (SB 25-275), ch. 377, p. 2071, § 185, effective August 6.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 24-51-1601
What does Colorado Revised Statutes § 24-51-1601 cover?
Section 24-51-1601 ("Deferred compensation plan and trust fund.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 24-51-1601?
A common citation format is "Colorado Revised Statutes § 24-51-1601" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 24-51-1601 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
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