State Public Pensions in Colorado

Death after retirement

Under Colo. Rev. Stat. 24-51-801, what is paid at a retiree's death depends on the option elected at retirement. Option 1 is a single life benefit that ends at the retiree's death.^{1, 2}

Option 2 is a joint life benefit under which one-half of the benefit continues to the cobeneficiary for life. Option 3 is a joint life benefit under which the same benefit continues to the cobeneficiary for life.^{1, 2}

Who receives the benefit

Section 24-51-801 provides that 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.¹

That amount is 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. With no named beneficiary, it is paid to the retiree's estate under Option 1, and to the estate of whichever of the two died last under Options 2 and 3.¹

When a member who dies before retirement does not qualify for survivor benefits, PERA pays a one-time lump sum of the account to the named beneficiary, or to the estate if none is named.³

Death before retirement

When a member dies before retirement, PERA pays qualified survivors either an ongoing monthly benefit or a one-time lump sum.³

Under the PERA benefit structure, survivor benefits require that the member was eligible to retire, was an active member with at least one year of service credit, had a job-related death, or was an inactive member with at least five years of service and a surviving spouse.³

Governing law: Colo. Rev. Stat. 24-51-201 (divisions); Colo. Rev. Stat. 24-51-801 (benefit options)

Colorado Public Employees' Retirement Association (Colorado PERA)

The state, school, local government, judicial, and Denver Public Schools divisions^{1, 4}

Phone: 1-800-759-7372

Mailing address: PO Box 5800, Denver, CO 80217-5800

1. 1.Colorado Revised Statutes 2024, Title 24 (official printout; 24-51-201 at p. 1802, 24-51-801 at p. 1874)
2. 2.Your Benefit Options at Retirement (Colorado PERA)
3. 3.Survivor Benefits (Colorado PERA)
4. 4.Contact Us (Colorado PERA)