Colorado § 31-31.5-306 - Picked-up contributions.
Full text of Colorado Colorado Revised Statutes § 31-31.5-306 — Picked-up contributions., with citation guidance and answers to common questions.
§ 31-31.5-306. Picked-up contributions.
Each employer shall pick up the mandatory employee contributions required under this part 3, to the extent allowed by the federal "Internal Revenue Code of 1986", as amended, and the contributions picked up shall be treated as employer contributions pursuant to section 414 (h)(2) of the federal "Internal Revenue Code of 1986", as amended, in determining their income tax treatment. The employer shall pay these employee contributions directly to the association, instead of paying such amounts to the members. Such contributions shall be paid from the same funds that are used in paying salaries to the members. Such contributions, although designated as employee contributions, shall be paid by the employer in lieu of contributions by the members. Members may not elect to choose to receive such contributions directly instead of having them paid by the employer to the plan. Employee contributions so picked up shall be treated for all purposes of this article 31.5, other than federal tax, in the same manner as employee contributions made before the date picked up.
Source: L. 2022: Entire article added, (HB 22-1034), ch. 61, p. 287, § 1, effective August 10.
Frequently Asked Questions About Colorado § 31-31.5-306
What does Colorado Revised Statutes § 31-31.5-306 cover?
Section 31-31.5-306 ("Picked-up 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 § 31-31.5-306?
A common citation format is "Colorado Revised Statutes § 31-31.5-306" (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 § 31-31.5-306 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.