8 Colo. Code Regs. § 1502-1-18
Rule 18 describes the rights and benefits of participants in the DPS plan, which was merged with the PERA system effective January 1, 2010, pursuant to Section 24-51-1701, et seq., C.R.S. Rule 18 also details the rules and requirements for portability between the Denver Public Schools Division and the other four divisions within the Association.
The Denver Public Schools Retirement System (DPSRS) will certify all data of the accounts of DPS members and retirees as of December 31, 2009. The certified data will be used by PERA and will have a presumption of accuracy unless the DPS member or retiree is able to demonstrate otherwise.
For purposes of Section 24-51-1747(1)(f), C.R.S. regarding one-time irrevocable choice, if the individual fails to make a choice and has service credit in both benefit structures and the amount of service credit in both structures is equal, and both structures have had the most recent contributions at the same time, then the individual shall be enrolled in the PERA benefit structure.
Pursuant to Section 24-51-1718, 1719 and 1721, C.R.S. under Options B, C and E, respectively, where payments become due to the estate of a deceased contingent beneficiary, or to an estate as designated or contingent beneficiary, the payments remaining due shall be commuted. Where payments is due to a trust which is the functional substitute, in the particular case, for a testamentary disposition, the Executive Director may, under appropriate conditions, direct payment to the trustee of such trust. Where the applicable adjustment is the less of 2% or the actual increase in the national consumer price index for urban wage earners and clerical workers (the "Index"), as calculated by the United States Department of Labor, a factor derived as follows shall be used in making the commutation calculation Such factor shall be the average of the annual increases paid for the five calendar years preceding the date of death of such contingent beneficiary, or of the death of the Annuitant or Co-Annuitant resulting in a payment due to an estate as contingent beneficiary, as the case may be, provided that if the change for any such year (i) is less than zero, then zero shall be substituted or (ii) is more than 2%, then 2% shall be substituted. If the death occurs before the Index figure is available for the calendar year prior to the particular death, then the Executive Director may use a period of the most recent 60-month period. In making the commutation calculation, the annual adjustment factor derived as just provided shall be incorporated into an algorithm with the other pertinent factors after consultation with the Association's actuary.
The effective date of the annual increase payable to members of the DPS benefit structure who were hired prior to July 1, 2005, shall be the same date that the annual increase is paid to members of the PERA benefit structure who were hired before January 1, 2007. Notwithstanding the foregoing, effective with the January 2010 benefit payment, eligible benefit recipients under the DPS benefit structure will receive an increase of.5417 percent which signifies two-twelfths of the 3.25 percent annual increase for the months of January and February 2010.
8 CCR 1502-1-18