Colorado § 31-31-412 - Merger into the statewide retirement plan.
Full text of Colorado Colorado Revised Statutes § 31-31-412 — Merger into the statewide retirement plan., with citation guidance and answers to common questions.
§ 31-31-412. Merger into the statewide retirement plan.
(1) (a) On or about January 1, 2023, the assets and liabilities of the statewide defined benefit plan shall merge into the statewide retirement plan created pursuant to article 31.5 of this title 31.
(b) Statewide defined benefit assets held in the actuarial account pursuant to this part 4 shall be transferred to the lifetime benefits account created pursuant to part 1 of article 31.5 of this title 31.
(c) Stabilization reserve account assets held in separate retirement accounts pursuant to this part 4 shall be transferred to the money purchase account created pursuant to part 1 of article 31.5 of this title 31.
(d) Deferred retirement option plan account assets of the statewide defined benefit plan shall be transferred to the money purchase account created pursuant to part 1 of article 31.5 of this title 31.
(2) All remaining defined benefits and other obligations of the statewide defined benefit plan payable on and after January 1, 2023, shall be paid from the lifetime benefits account of the statewide retirement plan; except that the remaining obligations held in the separate retirement accounts of the statewide defined benefit plan shall be transferred to and be payable from the money purchase component of the statewide retirement plan. Said obligations shall be paid pursuant to the statutory provisions and rules adopted by the board regarding the statewide retirement plan.
(3) Participation by all members, including retirees, in the statewide defined benefit plan shall terminate upon the merger of the plans and said members shall begin participation in the defined benefit component of the statewide retirement plan. Accumulated service credit and length of service shall be aggregated between the plans.
(4) Immediately after such transfer, the affected member's accrued benefits in the statewide retirement plan shall be equal to the member's accrued benefits immediately before the transfer.
(5) The merger is intended to be consistent with the requirements under section 414 (l) of the "Internal Revenue Code of 1986", as amended, and shall not be considered a plan termination and shall not result in a distributable event.
Source: L. 2022: Entire section added, (HB 22-1034), ch. 61, p. 304, § 7, effective August 10.
Cross references: For section 414 (l) of the "Internal Revenue Code of 1986", see 26 U.S.C. § 414 (l).
PART 5
STATEWIDE MONEY PURCHASE PLAN
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 31-31-412
What does Colorado Revised Statutes § 31-31-412 cover?
Section 31-31-412 ("Merger into the statewide retirement 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 § 31-31-412?
A common citation format is "Colorado Revised Statutes § 31-31-412" (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 § 31-31-412 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.