Richard B. Collins, Dale A. Oesterle, and Lawrence Friedman
- Published in print:
- 2020
- Published Online:
- April 2021
- ISBN:
- 9780190907723
- eISBN:
- 9780190907754
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780190907723.003.0024
- Subject:
- Law, Constitutional and Administrative Law
This chapter assesses Article XXIV of the Colorado Constitution, which provides for old age pensions. A 1936 citizens’ initiative added the article to set up the Old Age Pension Fund in the state ...
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This chapter assesses Article XXIV of the Colorado Constitution, which provides for old age pensions. A 1936 citizens’ initiative added the article to set up the Old Age Pension Fund in the state treasury and entitle the fund to specified revenues. A 1956 initiative amended the article to raise pension revenues, increase pensions, and add a health and medical care fund. It also allows surplus revenue to be used for other purposes. Section 3 sets qualifications for entitlement to a pension. Litigation and statutes have changed eligibility rules over time. Section 6 defines pension amounts, reduced by other retirement or pension income. In practice, because of availability of other pensions, the system has operated with surpluses paid into the general fund.Less
This chapter assesses Article XXIV of the Colorado Constitution, which provides for old age pensions. A 1936 citizens’ initiative added the article to set up the Old Age Pension Fund in the state treasury and entitle the fund to specified revenues. A 1956 initiative amended the article to raise pension revenues, increase pensions, and add a health and medical care fund. It also allows surplus revenue to be used for other purposes. Section 3 sets qualifications for entitlement to a pension. Litigation and statutes have changed eligibility rules over time. Section 6 defines pension amounts, reduced by other retirement or pension income. In practice, because of availability of other pensions, the system has operated with surpluses paid into the general fund.
