C.R.S. § 31-31-811: Cost of living adjustments.

(1) Cost of living adjustments payable under the statewide death and disability plan established in this part 8 are paid effective October 1 each year, and the redetermined amount of the benefit is payable for the following twelve months. To be eligible for a cost of living adjustment, retirement benefits shall have been paid for at least twelve calendar months prior to the effective date of the cost of living adjustment.

(2) (a) For the cost of living adjustment of permanent occupational disability retirement benefits, the amount of the benefit on the effective date of the benefit is increased by a percentage to be determined by the board but not more than three percent for each full year contained in the period commencing with the effective date of the benefit and ending with the effective date of the cost of living adjustment.

(b) For the cost of living adjustment of total disability retirement benefits, the amount of the benefit on the effective date of the benefit is increased by three percent for each full year contained in the period commencing with the effective date of the benefit and ending with the effective date of the cost of living adjustment. In the case of a member changing status from occupational disability to total disability, the three percent cost of living adjustment begins with the effective date of the benefit and there is no retroactive cost of living adjustment applied to the benefit for any period that the member was receiving an occupational disability benefit.

(3) The cost of the adjustment of benefits provided by this section is funded in the same manner as other benefits established by this part 8.