Colorado § 31-31.5-304 - Money purchase component contributions.
Full text of Colorado Colorado Revised Statutes § 31-31.5-304 — Money purchase component contributions., with citation guidance and answers to common questions.
§ 31-31.5-304. Money purchase component contributions.
(1) For members who elected the money purchase only option upon reentry into a predecessor plan, the contribution rate for employers and members is equal to the contribution rates established in the predecessor plan.
(2) Contributions, including separate retirement account balances from the predecessor statewide defined benefit plan established under part 4 of article 31 of this title 31, transfers from the predecessor statewide hybrid plan money purchase accounts, surplus contributions allocated from the defined benefit component contributions pursuant to section 31-31.5-301 (3), the portion of the minimum contributions of hybrid component allocated to the money purchase component pursuant to section 31-31.5-303 (3), increased local mandatory contributions pursuant to section 31-31.5-307, and increased local voluntary contributions pursuant to section 31-31.5-308 must be deposited in the money purchase component.
(3) The board may provide through rules for rollovers or transfer of funds from other plans to be deposited in the money purchase component subject to requirements and limits established by the federal "Internal Revenue Code of 1986", as amended.
Source: L. 2022: Entire article added, (HB 22-1034), ch. 61, p. 286, § 1, effective August 10.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 31-31.5-304
What does Colorado Revised Statutes § 31-31.5-304 cover?
Section 31-31.5-304 ("Money purchase component contributions.") 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 § 31-31.5-304?
A common citation format is "Colorado Revised Statutes § 31-31.5-304" (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 § 31-31.5-304 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.