Student Employees' Retirement Plan

C.R.S. tit. 24, art. 54.6
in effect

C.R.S. § 24-54.6-101 Legislative declaration

24-54.6-101. Legislative declaration. The general assembly hereby finds and declares that it is essential for the governing boards of the state colleges and universities and the affiliated agencies thereof, the Auraria higher education center, and the local district colleges to comply with federal legislation regarding retirement plan coverage of student employees in the most cost efficient manner. The general assembly therefore declares that it is imperative that the department of higher education have the maximum flexibility to provide retirement plans for student employees.

C.R.S. § 24-54.6-102 Definitions

24-54.6-102. Definitions. As used in this article, unless the context otherwise requires: (1) "Association" means the public employees' retirement association established pursuant to section 24-51-201. (2) "Department" means the department of higher education. (3) "Eligible student employee" means: (a) Any student employee of a governing board, state college or university, or affiliated agency of a state college or university, or the Auraria higher education center who is exempt from the state personnel system under section 13 (2) of article XII of the Colorado constitution as a student and who is required by federal law to be covered by a retirement plan; and (b) Any student employee of a local district college who is required by federal law to be covered by a retirement plan. (4) "Governing board" means any governing board of a state college or university. (5) "State college or university" means any postsecondary educational institution, including local district colleges, established and existing pursuant to title 23, C.R.S., as an agency of the state of Colorado and supported wholly or in part by tax revenues and includes the Auraria higher education center. For purposes of this subsection (5), "local district college" shall include Aims community college, Colorado mountain college, northeastern junior college, and Colorado Northwestern community college. (6) "Student employee retirement plan" or "plan" means any benefit plan established pursuant to the provisions of this article for the benefit of eligible student employees.

C.R.S. § 24-54.6-103 Authority of department and governing boards - establishment of student employee retirement plan

24-54.6-103. Authority of department and governing boards - establishment of student employee retirement plan. The department or any governing board is authorized to establish a student employee retirement plan pursuant to the provisions of this article.

C.R.S. § 24-54.6-104 Requirements for student employee retirement plan - contributions and purchase of contracts

24-54.6-104. Requirements for student employee retirement plan - contributions and purchase of contracts. (1) The department or any governing board shall, upon making a determination to establish a student employee retirement plan at a state college or university, set the terms and conditions of such plan. (2) Upon establishing a student employee retirement plan, the department or any governing board shall: (a) Provide for the administration of such plan; and (b) Designate from time to time the organization or organizations from which contracts for such student employee retirement plan shall be purchased. In designating such an organization or organizations, the department or governing board shall take into consideration: (I) The nature and extent of the rights and benefits to be provided by such contracts for eligible student employees participating in such plan and for the beneficiaries of such eligible student employees; (II) The relation of such rights and benefits to the amount of contributions to be made; (III) The suitability of such rights and benefits to the needs and interests of eligible student employees participating in such plan and to the interests of the department or such state college or university; and (IV) The ability of the designated organization or organizations to provide the required rights and benefits under the contract or contracts for such student employee retirement plan.

C.R.S. § 24-54.6-105 Participation

24-54.6-105. Participation. All eligible student employees of a state college or university for which a student employee retirement plan is offered shall participate in such plan.

C.R.S. § 24-54.6-106 Moneys not subject to legal process

24-54.6-106. Moneys not subject to legal process. Except for assignments for child support as provided for in sections 14-10-118 (1) and 14-14-107, C.R.S., as they existed prior to July 1, 1996, for income assignments for child support purposes pursuant to section 14-14-111.5, C.R.S., for writs of garnishment that are the result of a judgment taken for arrearages for child support or for child support debt, for payments made in compliance with a properly executed court order approving a written agreement entered into pursuant to section 14-10-113 (6), C.R.S., and for restitution that is required to be paid for the theft, embezzlement, misappropriation, or wrongful conversion of public property or in the event of a judgment for a willful and intentional violation of fiduciary duties pursuant to this article where the offender or a related party received direct financial gain, no annuity contract or certificate purchased under a student employee retirement plan established pursuant to the provisions of this article shall be assignable either in law or in equity or be subject to execution, levy, attachment, garnishment, or other legal process.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-24.docxFetched: 10/6/2026