Colorado § 24-51-1603 - Contributions to the deferred compensation plan.
Full text of Colorado Colorado Revised Statutes § 24-51-1603 — Contributions to the deferred compensation plan., with citation guidance and answers to common questions.
§ 24-51-1603. Contributions to the deferred compensation plan.
[Editor's note: This version of this section is effective until January 1, 2027.]
(1) An employee of an employer affiliated with the deferred compensation plan pursuant to section 24-51-1602 (2) or (3) may participate in the deferred compensation plan authorized in section 24-51-1601 by electing with his or her employer to defer receipt of salary by specifying an amount contributed by payroll deduction. The amount of such deferral by the employee shall be subject to any limitations established by federal law. The amount deferred, including investment earnings, shall be exempt from federal and state income taxes until the ultimate distribution of such contributions has been made to the participant, former participant, or beneficiary.
(2) All voluntary deferrals by a participating member shall be included in the salary of such member in accordance with section 24-51-101 (42) for the purpose of calculating member and employer contributions pursuant to the provisions of section 24-51-401. The member contribution provisions of section 24-51-401 shall not apply to any deferral made by a retiree.
(3) Consistent with the provisions of section 24-51-401 (1.7)(c) and (1.7)(d), the employer shall deliver all deferred compensation contributions to the trust fund via the service provider designated by the association, if applicable, within five days after the date the employees are paid.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 24-51-1603
What does Colorado Revised Statutes § 24-51-1603 cover?
Section 24-51-1603 ("Contributions to the deferred compensation plan.") 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 § 24-51-1603?
A common citation format is "Colorado Revised Statutes § 24-51-1603" (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 § 24-51-1603 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
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.