State law requires PERA membership for those employed by a PERA-affiliated employer in most instances, including full-time, part-time, temporary, seasonal, and substitute employees. Once an employee becomes a PERA member, that person must continue to contribute to PERA until termination of covered employment, death, or retirement. It is confusing because our eligibility matrix says no for the retirement plan for Temp Researcher (job code 1314). PERA does not care if an employee is temporary or part-time, so they should see those contributions if they have had previous PERA employment.
So basically, if they have previous PERA employment and have been offered the PERAChoice in the past or are offered it at this time, that election would remain in place. If they opted 401a or do not have previous PERA employment, they will not be eligible to participate in PERA.
For CU employees, "PERAChoice" refers to a one-time, irrevocable choice between continuing with a PERA Plan from prior employment or opting into CU's University Retirement Plans (401(a) Mandatory Plan and/or the 403(b) Voluntary Plan). If they terminate employment and are rehired in a Faculty or Exempt Professional appointment, this one-time irrevocable election will remain in effect.
Once employees leave employment, they have the option to refund or roll over their accounts. However, if they request a refund or rollover of their DB Plan account(s), they forfeit any future right to a benefit.
Some additional resources you may find helpful:
PERA FAQ: https://copera.org/forms-resources/pera-frequently-asked-questions/member-faqs
Leaving Employment: https://copera.org/welcome-pera-members/life-and-job-changes/leaving-employment
Plan Administrator |
Plan Number |
Phone |
Website |
PERA |
54 |
Local: 303-832-9550 |
If you have any further inquiries, please do not hesitate to contact Employee Services.
Additional information:
CU Benefits only sends PERAChoice letters to employees if the records indicate that they are members of the Public Employees' Retirement Association (PERA). Either through previous employment at CU or another PERA employer (Colorado state government, public school teachers in the state, many university and college employees, judges, many employees of cities and towns, State Troopers, and the employees of many other public entities).