Colo. Rev. Stat. § 24-51-607

Current through Acts effective through 6/5/2024 of the 2024 Legislative Session

Section 24-51-607 - Benefit formula for service retirement or reduced service retirement involving direct payments

A benefit for service retirement or reduced service retirement involving direct payments made by a vested inactive member shall be the option 1 benefit for service retirement, as calculated according to the formula set forth in section 24-51-603 or 24-51-605; except that the amount of the benefit shall then be multiplied by the ratio of service credit to the service credit required for eligibility as set forth in table B in section 24-51-602 or table C in section 24-51-604, whichever is applicable.

C.R.S. § 24-51-607

L. 87: Entire article R&RE, p. 1062, § 1, effective July 1. L. 88: Entire section amended, p. 970, § 5, effective July 1.

This section is similar to former §§ 24-51-109 and 24-51-611 as they existed prior to 1987.

For retirement of supreme court justices, other than under this article, see § 13-2-115 ; for retirement age for justices or judges, see § 23 of art. VI, Colo. Const.