Beneficiary designations.
Denver Revised Municipal Code § 18-426
in effectSec. 18-426. - Beneficiary designations.
(a) The participant shall designate any one (1) person as a beneficiary to receive benefits upon the death of the participant. The participant may designate multiple beneficiaries or a trust as beneficiary only to receive a lump-sum distribution of the DROP account. If the participant designates multiple beneficiaries to receive a lump-sum distribution, the member's DROP account shall cease being credited interest in accordance with subsection 18-424(h) upon the member's death.
(b) If the participant dies with a DROP account balance then the designated beneficiary may receive the participant's DROP distribution in accordance with any of the options under this division. If, however, the participant dies during the DROP and has not designated a beneficiary or the beneficiary predeceases the participant, the DROP benefit shall be paid in one (1) lump sum to the participant's estate. Payment shall be made within sixty (60) days after the plan is notified of the participant's death.
(Ord. No. 960-05, § 1, 12-19-05; Ord. No. 350-11, § 14, 6-20-11)
Source: City and County of Denver, Revised Municipal Code and Charter (Municode Library, library.municode.com)URL: https://library.municode.com/co/denver/codes/code_of_ordinances?nodeId=TITIIREMUCO_CH18EMOFPABE_ARTXIIRE_DIV3DEREOPPLMEDEEMREPL_S18-426BEDEFetched: 10/27/2026