Colorado Payroll Deduction — Special Services is a state-specific program that allows employees to allocate a portion of their wages to pay for special services offered by the state government. This voluntary deduction program provides employees with convenient access to a variety of special services without the need for upfront payments or additional paperwork. One type of Colorado Payroll Deduction — Special Service is the ColoradERARA (Public Employees' Retirement Association) option. Through this deduction, employees can contribute a percentage of their wages towards their retirement fund, ensuring a secure financial future. The Colorado ERA program offers various retirement plans and investment options to suit employees' preferences and goals. Another type of special service offered through Colorado Payroll Deduction is the state's Higher Education Savings Program. This deduction allows employees to contribute towards a qualified college savings account, such as a 529 plan. By deducting a portion of their wages, employees can consistently save for their or their dependent's higher education expenses, such as tuition, books, and room and board. This program aims to alleviate the burden of education costs and promote access to quality education for Colorado residents. Colorado Payroll Deduction — Special Services also include deductions for state-sponsored charitable giving campaigns. Employees can choose to contribute a portion of their earnings towards charitable organizations that support various causes such as education, health services, environmental conservation, and community development. This deduction program provides employees with a convenient way to give back to their communities and support causes they are passionate about. Additionally, Colorado Payroll Deduction — Special Services may encompass deductions for health and welfare benefit plans. Employees can opt to have certain insurance premiums, such as health, dental, or vision insurance, deducted from their wages. These deductions ensure that employees have access to essential healthcare services and coverage. In summary, Colorado Payroll Deduction — Special Services offers employees the opportunity to allocate a portion of their wages towards various services offered by the state government. This includes retirement savings through Colorado ERA, college savings programs, charitable giving campaigns, and health and welfare benefit plans. By participating in these deductions, employees can conveniently access these services and improve their financial well-being, education prospects, and support worthy causes in their communities.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.