An employer that terminates its affiliation with the association shall utilize an existing, or shall establish an alternative, pension plan or system established pursuant to the provisions of article 54 of this title 24. Failure to utilize or establish an alternative pension plan or system does not excuse the employer from the adherence to the remainder of the termination of affiliation provisions of this part 3.
Source: L. 88: Entire section added, p. 967, § 1, effective April 28. L. 2018: Entire section amended, (SB 18-200), ch. 370, p. 2241, § 10, effective June 4.
Cross references: For the legislative declaration in SB 18-200, see section 1 of chapter 370, Session Laws of Colorado 2018.