(a) Except as provided in subsection (b) of this section, the effective date of participation for an eligible governmental unit is July 1 of the year following the fiscal year in which the eligible governmental unit elects to participate in the Employees’ Pension System.
(b) If an eligible governmental unit does not provide the Board of Trustees with the necessary documentation to join the Employees’ Pension System on or before the effective date for the eligible governmental unit, the effective date shall be postponed until July 1 of the second year following the fiscal year in which the eligible governmental unit elects to participate in the Employees’ Pension System.