Prepaid Tuition Fund stays closed, changes terms on existing accounts
Participants who remain in the program, but later request withdrawals before the first payout date specified in their contracts, will receive much less under the revised terms. For withdrawals after their first payout dates, account values will be determined based on either (1) current contract terms provided the Colorado Legislature agrees during its 2003 session to pay for future unfunded liabilities, or (2) amended contract terms that cap annual tuition increases to 5.5% if the Colorado Legislature fails to provide a financial commitment.