State Public Pensions in Colorado
Colorado PERA provides retirement benefits for state, school, local government, judicial, and Denver Public Schools employees. Survivor and death benefits depend on whether the member died before or after retirement and, for a retiree, on which of the three benefit options they elected at retirement.
Administering agency
Colorado Public Employees' Retirement Association (Colorado PERA)
Authority
Colo. Rev. Stat. 24-51-201 (divisions); Colo. Rev. Stat. 24-51-801 (benefit options)
State Public Pensions in Colorado: key facts
- System
- Colorado PERA is made up of the state, school, local government, judicial, and Denver Public Schools divisions.
- Retiree death
- It depends on the option elected at retirement. Option 1: a single life benefit that ends at the retiree's death. Option 2: a joint life benefit under which one-half of the benefit continues to the cobeneficiary for life. Option 3: a joint life benefit under which the same benefit continues to the cobeneficiary for life. Under any option, if the total benefits paid did not exceed the money credited to the member contribution account, an amount equal to twice the remaining money is paid to the named beneficiary — measured at the retiree's death under Option 1, and at the death of both the retiree and the cobeneficiary under Options 2 and 3. If there is no named beneficiary, it is paid to the retiree's estate under Option 1, and to the estate of whichever of the retiree and cobeneficiary died last under Options 2 and 3.
- Pre-retirement death
- Qualified survivors receive either an ongoing monthly benefit or a one-time lump sum. Under the PERA benefit structure, survivor benefits require that the member was eligible to retire, or was an active member with at least one year of service credit, or had a job-related death, or was an inactive member with at least five years of service and a surviving spouse. A member who does not qualify leaves a one-time lump-sum payment of the account to the named beneficiary, or to the estate if none is named.
- Member services
- 800-759-7372; PO Box 5800, Denver, CO 80217-5800; offices at 1301 Pennsylvania Street, Denver.
Governing law: Colo. Rev. Stat. 24-51-201 (divisions); Colo. Rev. Stat. 24-51-801 (benefit options)
Steps to take when someone dies
- Report the member's or retiree's death to Colorado PERA at 800-759-7372 so pension payments stop.
- Confirm the benefit option and the cobeneficiary or named beneficiary designation on file, and ask what survivor or death benefit is payable.
- File the survivor or death-benefit claim with the documents PERA requires.
Colorado Public Employees' Retirement Association (Colorado PERA)
Phone: 800-759-7372
Visit the agency website →Frequently asked questions
Contact Colorado PERA at 800-759-7372. PERA covers the state, school, local government, judicial, and Denver Public Schools divisions, and it handles survivor and death-benefit claims.
It depends on the option the retiree elected under Colo. Rev. Stat. 24-51-801. Option 1 is a single life benefit that ends at death. Option 2 continues one-half of the benefit to the cobeneficiary for life. Option 3 continues the same benefit to the cobeneficiary for life. Under any option, if the total benefits paid did not exceed the money credited to the member contribution account, twice the remaining money is paid to the named beneficiary, or to the estate if none is named — measured at the retiree's death under Option 1, and at the death of both the retiree and the cobeneficiary under Options 2 and 3.
Qualified survivors receive either an ongoing monthly benefit or a one-time lump sum. Under the PERA benefit structure the member must have been eligible to retire, been an active member with at least one year of service credit, had a job-related death, or been an inactive member with at least five years of service leaving a surviving spouse. If the member does not qualify, a one-time lump-sum payment of the account goes to the named beneficiary, or to the estate if none is named.
Sources
Data sourced from State Public Pensions in Colorado primary sources (4 pages reviewed). How we research.
Administering agency
Colorado Public Employees' Retirement Association (Colorado PERA)
Authority
Colo. Rev. Stat. 24-51-201 (divisions); Colo. Rev. Stat. 24-51-801 (benefit options)