Colorado § 31-30.5-401 - Sources of revenue for fund.

§ 31-30.5-401. Sources of revenue for fund.

(1) Except for state-assisted old hire police officers' and firefighters' pension plans and those affiliated with the fire and police pension association pursuant to section 31-31-701, each old hire pension fund may consist of:

(a) All moneys that may be given to such board or fund by any person for the use and purpose for which such fund is created. Such board may take, by gift, grant, devise, or bequest, any money, personal property, or real estate, or interest therein, as trustees for the uses and purposes for which the fund is created;

(b) All moneys, fees, rewards, or emoluments of every nature and description that may be paid or given to said fund;

(c) All moneys derived from employer and member contributions, as provided for in sections 31-30.5-402 and 31-30.5-403.

Source: L. 96: Entire article added with relocations, p. 876, § 1, effective May 23.

Editor's note: This section was formerly numbered as § 31-30-406.

ANNOTATION

Annotator's note. Since § 31-30.5-401 is similar to § 31-30-407 as it existed prior to the 1996 amendment that relocated parts 3 through 10 of article 30, relevant cases construing that section have been included in the annotations to this section.

This section is clear and free from ambiguity and is capable of only one interpretation, if interpretation be required. Pueblo Fireman's Pension Bd. v. Hubersberger, 132 Colo. 344, 288 P.2d 352 (1955).

Mandatory duty of board. Under this section once a petitioner's disability is established, it is the mandatory duty of the board to retire him and grant his pension. Pueblo Fireman's Pension Fund v. Hubersberger, 132 Colo. 344, 288 P.2d 352 (1955).

The general assembly did not intend to permit a city to reduce an employee in rank, level, and dignity and change his class of employment by forcing him to accept a position which would accomplish that result; and then supplement such lower salary by an amount sufficient to pay the employee his former salary, and thereby deprive him of his pension. If we should establish such rule in the instant case, the rule could be applied to compel an employee of the city to accept any position of a different class and lower level and rank, provided the employee received his original pay; and by this method defeat his pension. The general assembly never intended for transfers to the manipulated so as to accomplish that result. Pueblo Fireman's Pension Bd. v. Hubersberger, 132 Colo. 344, 288 P.2d 352 (1955).

A petitioner is entitled to know what facts the board relies on and an opportunity, after notice, to present evidence to controvert the factual situation used as a basis for the conclusion of the board. Pueblo Fireman's Pension Bd. v. Hubersberger, 132 Colo. 344, 288 P.2d 352 (1955).