8 Colo. Code Regs. § 1502-1-17
Rule 17 describes certain requirements of the Deferred Compensation Plan, which is a 457(b) plan established pursuant to Section 457(b) of the Internal Revenue Code of 1986, as amended. In addition to this Rule 17 and Part 16 of Article 51 of Title 24, C.R.S., the Deferred Compensation Plan, or "457 Plan", is also governed by the Deferred Compensation Plan document adopted by the Board (the "Plan document").
Any employee of an employer who has affiliated with the Deferred Compensation Plan pursuant to section 24-51-1602, C.R.S. may enroll in accordance with the Plan document.
Requests for changes in the amount or investment of contributions must be submitted in the time and manner determined by the Plan Administrator.
A participant may stop contributions to the 457(b) Plan in accordance with the terms of the Plan document.
The employer shall deliver all 457(b) Plan contributions, along with the required report, in the form and manner designated by the Plan Administrator, within five days of the date contributions were deducted from the employee's salary. If either the report or contributions are delinquent, interest shall be owed to participant accounts, and additional interest shall be assessed and paid to the Association as specified in Rule 4.10.
Distribution of a participant's 457 Plan account may commence as specified in the Plan document.
All eligible participants may borrow monies from the participant's 457(b) account subject to loan provisions established by the Board and specified in the Plan document.
A participant may only contribute to the 457(b) Plan up to the maximum contribution limits established by the Internal Revenue Service each year. If a person contributes to another 457(b) plan in the same year as they contribute to the PERA 457(b) Plan, the person is responsible for compliance with the Internal Revenue Service Code regarding maximum allowable contributions.
8 CCR 1502-1-17