If less than three years of contributory service or noncontributory service is acquired after a retired member's reentry into covered employment, the member upon subsequent retirement must receive a refund of the member's accumulated contributions.
If three years or more of contributory service or noncontributory service is acquired after a retired member's reentry into covered employment, the member upon subsequent retirement may receive either a refund of the member's accumulated contributions or an additional benefit based upon the member's credited service and final compensation earned during the reentry. Only the member's credited service from the subsequent employment must be taken into account in calculating a reduction pursuant to § 3-12C-1111, if any, in the member's additional benefit. The COLA applied to the original benefit pursuant to § 3-12C-703, must be eliminated for the period of reemployment, unless the member retired as a Class B public safety member and subsequently reentered covered employment as a Class A member.
The provisions of this section apply to any member who retired without any reduction in benefits pursuant to § 3-12C-1111, and who reenters covered employment after June 30, 2004, but before April 1, 2010.