Colorado Revised Statutes Title 31. Government Municipal § 31-31.5-307. Increased local mandatory contribution requirements

(1) An employer or active member or both may be required to pay a mandatory contribution rate in excess of the rate established in section 31-31.5-301, 31-31.5-302, or 31-31.5-303 upon enactment by the employer of a resolution or ordinance setting forth the higher contribution rate and approval of the higher rate by at least sixty-five percent of the employer's active members voting for the higher contribution rate.

(2) An employee who has previously established a mandatory contribution rate under a local money purchase plan in excess of the mandatory contribution rate may continue the previous contribution rate as an increased contribution rate.

(3) Upon adoption of a resolution or ordinance, and approval of at least sixty-five percent of the employer's active members voting, a mandatory contribution rate in excess of the minimum required contribution rate may be reduced to the minimum required contribution rate or the excess above the minimum required contribution rate may be redirected to another available employee benefit.