Any member of the Arkansas Public Employees' Retirement System who is erroneously enrolled in the Arkansas Public Employees' Retirement System because of concurrent enrollment in another state-funded or state-authorized retirement system, other than Social Security, due to separate and distinct service for a public school or a municipality, may elect to remain a member of the Arkansas Public Employees' Retirement System subject to the following conditions:
(1) The other system will allow the member to forfeit the concurrent service by refunding all employer and employee contributions respectively; and
(2) The member notifies both the Arkansas Public Employees' Retirement System and the other system that the member will remain in the Arkansas Public Employees' Retirement System and forfeit service and accrued benefits in the other system.