Dividing Colorado PERA Retirement Accounts With a DRO.
Like most government retirement plans, the Colorado PERA retirement plans are unique as to the procedures which must be followed in order to divide those accounts pursuant to a divorce decree.
Although the standard PERA DRO (Domestic Relations Order) Agreement appears to be simple, the extensive rules and regulations behind the DRO are complicated.
And those extensive rules and regulations continue to change, perhaps every couple of years. Recently they have delayed the retirement age. Since PERA is significantly underfunded, further "adjustments" are expected.
Colorado PERA is unique because it will not accept a court Domestic Relations Order which attempts to divide a PERA account if more than 90 days has passed since the date of the divorce decree.
Even though certain PERA restrictions and requirements may appear to be unfair, those rules and regulations have been upheld by the higher Colorado courts.
So, this means that you have to be on the ball if you are going to divide a PERA plan with a divorce court order.
Our PERA fee is still $275.