(1) A defined contribution plan member shall not be considered a member or a retiree for the purpose of parts 4 to 12 of this article, nor shall his or her survivors or beneficiaries be considered benefit recipients.
A defined contribution plan member may participate in optional life insurance, longterm care insurance, the voluntary investment program, and the deferred compensation plan as provided in this article.
A member of the defined contribution plan shall be eligible to enroll in the healthcare program as a benefit recipient pursuant to section 24-51-1204 (1)(a) only if the member elects the lifetime annuity distribution option. Any premium subsidy paid shall be based on the years of service credit in the defined benefit plan.
A member of the defined contribution plan who has reached the age at which adistribution would not be subject to a penalty pursuant to the federal "Internal Revenue Code of 1986", as amended, and who returns to employment shall be subject to the provisions of part 11 of this article concerning employment after retirement.
(Deleted by amendment, L. 2009, (SB 09-66), ch. 73, p. 254, § 12, effective March31, 2009.)
Source: L. 2004: Entire part added, p. 1950, § 23, effective January 1, 2006. L. 2009: (2) and (5) amended, (SB 09-066), ch. 73, p. 254, § 12, effective March 31.