No.
Although Colorado lawmakers are eligible for the same state retirement benefits as other state employees, their legislative paychecks stop when their terms end.
If state General Assembly members choose to pay into the Public Employees’ Retirement Association of Colorado, they can make contributions to a defined contribution program, like a 401k, or defined benefit program, like a pension. On retirement, defined contribution benefits depend on how much representatives made during their time in office. Defined benefits depend on how long employees worked in PERA-eligible positions, their PERA-eligible salary, and their retirement age.
Employees who complete eight years of service, the maximum consecutive term length for lawmakers, can collect up to 20% of their highest average salary after retirement. Legislators may accrue more years of service through other PERA-eligible work outside of the legislature.
Lawmakers voted in 2024 to raise legislative salaries to $47,561 from $43,977.
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