Old Age Pensions

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.