(1) For the purposes of integrating division of claims and risk management or workers' compensation payments with the disability retirement allowance provided herein, compensation shall include any payments made by the division of claims and risk management or workers' compensation, except payments made for hospital or medical expenses.
(2) Any member who is approved for a disability retirement allowance may be required to report to the retirement system, on a quarterly basis, the status of any workers' compensation claim filed by the member. The member shall provide a copy of the final workers' compensation settlement or judgment to the retirement system within thirty (30) days after the settlement or judgment becomes final. Failure to comply with the requirements of this subsection (b) may result in the suspension of the member's retirement allowance.