Colorado Revised Statutes Title 24. Government State § 24-52.5-101. Legislative declaration

(I) A retirement health savings trust is established by the nonprofit entity for the purpose of providing retirement health benefits to the employees of the entity.

(II) The provision of retirement health benefits is considered an integral part of the nonprofit entity's activities.

(III) A retirement health savings trust that makes the provision of retirement health benefits possible is considered a part of the nonprofit entity and therefore may be included in the entity's tax-exempt status.

(IV) A retirement health savings trust creates an individual account within the trust for each employee who chooses to participate and allows the employer to make pretax contributions, including unused annual or sick leave, to an employee's account on behalf of the employee.

(V) The nonprofit entity that creates a retirement health savings trust maintains substantial control of the trust in that it has the power to amend or terminate the trust and to appoint the trustees of the trust.

(VI) A retirement health savings trust allows each participating employee to determine how his or her money will be invested.

(VII) All earnings in a retirement health savings trust grow on a tax-deferred basis, and a participating employee may make withdrawals on a tax-free basis after reaching a certain age, so long as the moneys are used for qualified medical expenses.

(VIII) Any assets that remain in a participating employee's account at the time of the employee's death may be used for qualified medical expenses by the employee's spouse, dependents, or other beneficiaries.