19-2-1004. Exemption from taxes and legal process. Except as provided in 19-2-907 and 19-2-909, the right of a person to any benefit or payment from a retirement system or plan and the money in the system or plan's pension trust fund is not:
(1) subject to execution, garnishment, attachment, or any other process;
(2) subject to state, county, or municipal taxes except for:
(a) a benefit or annuity received in excess of the amount determined pursuant to 15-30-2110(2)(c); or
(b) a refund of a member's regular contributions picked up by an employer after June 30, 1985, as provided in 19-3-315, 19-5-402, 19-6-402, 19-7-403, 19-8-502, 19-9-710, or 19-13-601; or
(3) assignable except as specifically provided in this chapter.