Members who are employees of an employer that has terminated its affiliation with the association shall become inactive members as of the effective date of termination of affiliation. Such members may elect to have their member contributions credited to the alternative pension plan or system required by section 24-51-319. In the absence of such an election, member contributions will remain with the association unless the member otherwise elects to refund such contributions in accordance with section 24-51-405.
Source: L. 88: Entire section added, p. 967, § 1, effective April 28. L. 2018: Entire section amended, (SB 18-200), ch. 370, p. 2241, § 9, effective June 4.
Cross references: For the legislative declaration in SB 18-200, see section 1 of chapter 370, Session Laws of Colorado 2018.