Colorado § 24-51-707 - Continuation of disability retirement benefits - reduction based on earned income - applications made prior to January 1, 1999.

§ 24-51-707. Continuation of disability retirement benefits - reduction based on earned income - applications made prior to January 1, 1999.

(1) For any disability retiree whose disability retirement date is on or after July 1, 1988, and whose application for disability retirement was received by the association prior to January 1, 1999, the amount of the annual disability benefit shall be reduced by one-third of the amount by which the income earned by such retiree in the preceding calendar year plus the amount of the initial benefit multiplied by twelve exceeds the highest average salary of such retiree multiplied by twelve. The following formula shall be used to determine said reduction:

[Earned Income + (Initial Benefit x 12) - (Highest Average Salary x 12)] x 1/3

(2) The provisions of this section shall apply from the date of disability retirement or January 1, 1989, whichever is later, to the date the retiree meets the requirements for service retirement set forth in section 24-51-602 (1). Unless such disability benefit has been terminated, the provisions of this section shall apply regardless of whether the retiree is disabled or has recovered from such disability.

Source: L. 97: Entire part R&RE, p. 777, § 12, effective January 1, 1999.

Editor's note: This section is similar to former § 24-51-707 as it existed prior to 1997.

ANNOTATION

Annotator's note. The following annotations include cases decided under this section as it existed prior to its 1997 repeal and reenactment.

The offset to a claimant's temporary and permanent disability pension benefits should continue so long as the disability benefits continue and should not automatically terminate based upon claimant's achieving 65 years of age. State Penitentiary v. Toothaker, 832 P.2d 1009 (Colo. App. 1991).

Trooper's right to disability benefits fully vested at the time he fulfilled the statutory conditions not at time of injury and therefore trooper had only limited vesting when subsection (2) was amended. Knuckey v. Pub. Emp. Retirement Ass'n, 851 P.2d 178 (Colo. App. 1992).