(1) Past service benefits in the public employees' retirement association shall be purchased for each employee covered under sections 13-3-104 and 13-3-105 who, on January 1, 1970, meets all of the following conditions:
Is sixty years of age or older;
Was not a member of a county or a city and county retirement plan, or, if a member,is not eligible to receive a deferred annuity;
If a member of a county or a city and county retirement plan, has withdrawn thefunds credited to his account with the county or city and county retirement fund, and paid the full amount thereof, exclusive of any voluntary contributions to such county or city and county retirement plan, into the public employees' retirement association, or who withdraws such funds and deposits them with the public employees' retirement association no later than March 31, 1970.
(2) (a) When an employee meets all of the conditions in subsection (1) of this section, the public employees' retirement association shall grant him prior service credit based on length of service in a court, or department thereof, covered under sections 13-3-104 and 13-3-105, up to a maximum of five years.
The public employees' retirement association shall calculate the cost of granting suchprior service credit to each employee, after giving credit for the amount paid, if any, by the employee, and shall bill the judicial department for such cost. In the event that the cost for an employee is less than the amount paid in by him pursuant to subsection (1)(c) of this section, the treasurer of the public employees' retirement association shall instead refund the difference to the employee.
The judicial department shall include the total of such billings in its appropriationrequest. The grant of prior service credits provided in paragraph (a) of this subsection (2) shall be made only if an appropriation therefor is made by the general assembly.
(3) (a) Any employee under the age of sixty years covered under sections 13-3-104 and 13-3-105 who has been a member of a county or city and county retirement plan may purchase prior service credit by withdrawing the funds credited to his account with the county or city and county retirement fund and paying the full amount thereof into the public employees' retirement fund.
The public employees' retirement association shall calculate the amount of prior service credit purchased by an employee as provided in paragraph (a) of this subsection (3) and shall so notify him.
An employee covered under sections 13-3-104 and 13-3-105 may also purchase priorservice credit, not to exceed the actual number of years of employment in a court of record, or department thereof, by making a direct payment to the public employees' retirement association in an amount determined by the public employees' retirement association to be actuarially sound and without expense to the state.
(4) For the purposes set forth in article 51 of title 24, C.R.S., the employees for whom prior service credit is granted under this section shall be considered to have been employees of the state for the period of such prior service.
Source: L. 69: p. 248, § 4. C.R.S. 1963: § 37-11-11. L. 79: (3)(c) amended, p. 603, § 1, effective June 19. L. 87: (1)(c), (2)(b), (3)(c), and (4) amended, p. 1091, § 5, effective July 1.