8 Colo. Code Regs. § 1502-1-10
Current through Register Vol. 48, No. 1, January 10, 2025
Rule 8 CCR 1502-1-10 - INCREASE IN BENEFITSRule 10 further defines eligibility for and determination of annual increases in benefits. Rules 10.10 and 10.20 A. shall not apply to DPS members or retirees.
10.10Retroactive Effective Date of Retirement or Survivor BenefitA. For a retiree who was a member, inactive member, or retiree on December 31, 2006, if the effective date of the benefit is retroactive, then increases in the benefit shall be determined by considering the benefit to have been paid from the effective date.B. For a survivor benefit recipient, if the effective date of the benefit is retroactive, then increases in the benefit shall be determined by considering the benefit to have been paid from the effective date.10.20Increase in Benefits for CobeneficiariesA. For cobeneficiaries whose benefits are based on the account of a retiree who was not a member, inactive member, or retiree on December 31, 2006, the annual increase shall be effective only if the retirement benefits have been paid on the account for the full preceding calendar year and the retiree had met the requirements in 24-51-1001(3)(b) or 24-51-1001 (3.5), C.R.S., as applicable. If upon the death of the retiree, the retiree had not met the requirements in 24-51-1001(3)(b) or 24-51-1001 (3.5), C.R.S., as applicable, the cobeneficiary will be eligible to receive an annual increase when the retiree would have met the requirements in 24-51-1001(3)(b) or 24-51-1001 (3.5), C.R.S., as applicable.B. For cobeneficiaries whose benefit is based on the account of a DPS member or DPS retiree, or whose benefit is based on the account of a member of the PERA benefit structure who began membership on or before December 31, 2006, the annual increase shall be effective only if the retirement benefits have been paid on the account for the preceding twelve months and the retiree had met the requirements in Section 24-51-1001(1)(b) or 24-51-1001(1) (b.5), C.R.S., as applicable. If upon the death of the retiree, the retiree had not met the requirements in Section 24-51-1001(1)(b) or 24-51-1001(1) (b.5), C.R.S., as applicable, the cobeneficiary will be eligible to receive an annual increase when the retiree would have met the requirements in Section 24-51-1001(1)(b) or 24-51-1001(1) (b.5), C.R.S., as applicable. This Rule only applies to accounts for which the effective date of retirement is on or after January 1, 2011.10.30Proration of Annual Increase for Post-January 1, 2011 Benefit RecipientsThis Rule shall only apply to post-January 1, 2011 benefit recipients whose benefit is based on the account of a DPS member or DPS retiree or whose benefit is based on an account of a member of the PERA benefit structure who began membership on or before December 31, 2006.
A. When the benefit recipient receives his or her first annual increase after becoming eligible for the annual increase pursuant to Part 10 of the PERA statutes, in addition to receiving the applicable compounded annual increase percentage in July, the benefit recipient shall also receive:(1) A one-time payment that is not compounded on the base benefit or retirement allowance, whichever is applicable, recognizing the period between the month in which the benefit recipient first became eligible for the annual increase to July of the year in which he or she receives his or her first annual increase. The amount of the one-time payment shall be the amount of the annual increase percentage paid in July multiplied by the base benefit or the retirement allowance, whichever is applicable, multiplied by the number of months the benefit recipient has been eligible for the annual increase.(2) Upon re-retirement under sections 24-51-1103 (1.5) or 24-51-1726.5, C.R.S., whichever is applicable, each benefit segment is eligible for the one-time payment as described in subsection (1) above.B. For benefit recipients receiving multiple benefits, excluding benefit recipients who receive multiple benefit segments pursuant to sections 24-51-1103 (1.5) or 24-51-1726.5, C.R.S., whichever is applicable, each benefit shall be looked at separately when determining eligibility for the annual increase and in determining the amount of the one-time payment as described in paragraph A. (1) above. C. For benefit recipients receiving multiple benefit segments pursuant to sections 24-51-1103 (1.5) or 24-51-1726.5, C.R.S., whichever is applicable, in which at least one or more is a reduced service retirement benefit, the total service credit across all benefit segments will be used in determining eligibility for the annual increase.10.40Increase in Benefits for State Troopers Receiving a Reduced Service RetirementFor a member who is receiving a reduced service retirement and has service credit both as a State Trooper, as defined in 24-51-101(46), C.R.S., and as a non-State Trooper, service credit for purposes of determining eligibility for the annual increase pursuant to Part 10 of Article 51 of Title 24, C.R. Swill be weighted in the same manner as determining service retirement eligibility pursuant to Rule 6.10.
38 CR 23, December 10, 2015, effective 1/1/201639 CR 23, December 10, 2016, effective 1/1/201740 CR 04, February 25, 2017, effective 4/1/201740 CR 24, December 25, 2017, effective 2/1/201841 CR 14, July 25, 2018, effective 9/1/201841 CR 20, October 25, 2018, effective 1/1/201942 CR 20, October 25, 2019, effective 1/1/202043 CR 21, November 10, 2020, effective 1/1/202144 CR 20, October 25, 2021, effective 1/1/2022