Colorado § 24-51-409 - Refund of erroneous member contribution.
Full text of Colorado Colorado Revised Statutes § 24-51-409 — Refund of erroneous member contribution., with citation guidance and answers to common questions.
§ 24-51-409. Refund of erroneous member contribution.
(1) It is the intent of the general assembly that the association consider the payment of interest on any erroneous contribution made to a member contribution account and later refunded to the member. It is the further intent of the general assembly that, if the member was intentionally and actively involved in an erroneous contribution with an intent to increase a retirement benefit by including contributions to the member contribution account that were not based on salary, then interest may be withheld by the association as provided in this section.
(2) The association shall refund to an employer, for payment to a member, any erroneous contribution, as defined in section 24-51-101 (21.5), that was made by the employer to a member contribution account. The association shall refund to the employer for payment to such member, in addition to the amount of the erroneous contribution, interest in the amount specified in section 24-51-101 (28)(c) for the period beginning on the date of the contribution and ending on the date of the refund; except that, if the member was intentionally and actively involved in the erroneous contribution made to his or her member contribution account, the refund of interest on that amount may be withheld by the association.
Source: L. 95: Entire section added, p. 518, § 2, effective May 19.
Editor's note: This section was originally numbered as 24-51-407 in House Bill 95-1281 but has been renumbered on revision for ease of location.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 24-51-409
What does Colorado Revised Statutes § 24-51-409 cover?
Section 24-51-409 ("Refund of erroneous member contribution.") 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 § 24-51-409?
A common citation format is "Colorado Revised Statutes § 24-51-409" (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 § 24-51-409 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.