(1)An injured employee may settle all or
part of any claim for compensation, benefits, penalties, or interest. If such
settlement provides by its terms that the employee's claim or award shall not be
reopened, such settlement shall not be subject to being reopened under any
provisions of articles 40 to 47 of this title other than on the ground of fraud or
mutual mistake of material fact.
(2)Such a settlement shall be in writing and shall be signed by a
representative of the employer or insurer and signed and sworn to by the injured
employee. For claims that have a settlement amount of seventy-five thousand
dollars or more, a written notice of the settlement agreement shall be provided to
the employer.
(3)The settlement shall be reviewed in person with the injured employee and
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(1) An injured employee may settle all or
part of any claim for compensation, benefits, penalties, or interest. If such
settlement provides by its terms that the employee's claim or award shall not be
reopened, such settlement shall not be subject to being reopened under any
provisions of articles 40 to 47 of this title other than on the ground of fraud or
mutual mistake of material fact.
(2) Such a settlement shall be in writing and shall be signed by a
representative of the employer or insurer and signed and sworn to by the injured
employee. For claims that have a settlement amount of seventy-five thousand
dollars or more, a written notice of the settlement agreement shall be provided to
the employer.
(3) The settlement shall be reviewed in person with the injured employee and
approved in writing by an administrative law judge or the director of the division
prior to the finalization of such settlement. The settlement shall be filed with the
division as a part of the injured employee's permanent record.
(4) If an employee owes child support and a garnishment has been filed
pursuant to section 13-54.5-101, C.R.S., or the state child support enforcement
agency has filed a notice of administrative lien and attachment pursuant to section
26-13-122, C.R.S., with the insurer or self-insured employer, all proceeds of any
award, lump sum settlement, and the indemnity portion of any structured
settlement shall be subject to said garnishment or administrative lien and
attachment. Proceeds up to the amount of the garnishment or administrative lien
and attachment shall be paid as directed on the notice to the obligee or to the state
child support enforcement agency on behalf of the obligee to whom support is
owed.
(5) If an employee owes a debt for which a writ is issued as a result of a
judgment for fraudulently obtained public assistance, fraudulently obtained
overpayments of public assistance, or excess public assistance paid for which the
recipient was ineligible and a garnishment has been filed pursuant to section 13-54-104 or 13-54.5-101 with the insurer or self-insured employer, all proceeds of any
award, lump sum settlement, and the indemnity portion of any structured
settlement are subject to the garnishment. Proceeds up to the amount of the
garnishment shall be paid as directed by the county department of human or social
services responsible for administering the state public assistance programs.
(6) To aid in settlement, the director shall review mortality tables from the
United States government and private industry and issue rules establishing a single
life expectancy table on July 1 in every even-numbered year, commencing July 1,
2010. The director may adopt current mortality tables used by medicare. Nothing in
this subsection (6) shall be construed to limit the use of rated ages.
(7) Any lump sum payable as a full or partial settlement shall be paid to the
claimant or the claimant's attorney within fifteen calendar days after the date the
executed settlement order is received by the carrier or the noninsured or self-insured employer.
(8) The director shall adopt rules as necessary to implement the procedure
to review and approve settlement documents. At a minimum, the rules must:
(a) Allow a represented claimant to submit settlement documents for
approval by electronic mail;
(b) Provide for the approval of settlement documents if the claimant's
signature is not an original but is notarized; and
(c) Require the division to electronically mail to counsel of record, or to the
insurance carrier or self-insured employer if not represented, a copy of the
division's order approving the settlement agreement of the parties.
(9) In accordance with section 24-30-1510.7 (6), if the state enters into a
settlement agreement with a state employee pursuant to subsection (1) of this
section, the state shall neither suggest nor require:
(a) That the state employee resign from state employment;
(b) That the state employee refrain from seeking or obtaining employment
with the state in the future; or
(c) That any other restrictions be placed on the state employee's ability to
work for the state.