C.R.S. § 31-31-812: Reduction of disability retirement benefits.

(1) (a) The benefits payable pursuant to this part 8 to any member who is awarded an occupational disability benefit prior to October 1, 2002, a total disability benefit, or who is permanently occupationally disabled and who is also eligible to receive payments from the member's individual account pursuant to part 5 of article 31.5 of this title 31 or a similar provision in a local pension plan is reduced by an amount that is the actuarial equivalent of the benefits such member is eligible to receive from the separate retirement account, whether the benefits received from the account are paid on a periodic basis or in a lump sum.

(b) The benefits payable pursuant to this part 8 to any member who is awarded a total disability benefit or who is permanently occupationally disabled and who is also eligible to receive a defined benefit from a statewide or local pension plan is reduced by the amount of the defined benefit.

(c) Any disability retirement benefit provided pursuant to this part 8 is reduced by the pro rata amount of any social security benefit received by the member attributable to the member's quarters of social security coverage derived from employment as a member.

(d) Any member receiving an occupational disability benefit pursuant to this part 8 and a social security benefit attributable to the member's quarters of social security coverage derived from employment as a member shall file an annual report concerning any social security income. If such member knowingly fails to file such report or files a fraudulent report, the disability retirement benefit is discontinued.

(2) The benefits payable pursuant to this part 8 to any member who is occupationally disabled prior to October 1, 2002, is permanently occupationally disabled, or who is totally disabled and who at the time of the award of such benefits is a member of a money purchase plan pursuant to this article 31 or article 30.5 of this title 31, including any department chief, who at the time of the award of such benefits has been exempted from the statewide retirement plan as permitted by section 31-31.5-203, is reduced by an amount that is the actuarial equivalent of the benefits such member receives from any such money purchase plan, whether the benefits received from the money purchase plan are paid on a periodic basis or in a lump sum. A reduction shall not exceed the actuarial equivalent of money purchase plan benefits if such benefits had been funded at the same rate of contributions specified in section 31-31.5-301.