(a) A member is eligible to apply for and receive a service retirement annuity if the member:
(1) is at least 60 years old and has at least 10 years of credited service in the retirement system;
(2) has at least 30 years of credited service in the retirement system; or
(3) has at least 10 years of credited service in the retirement system and the sum of the member's credited service and attained age equals or exceeds the number 80.
(b) A person who has retired under this section with a service retirement annuity is eligible, without regard to any age or credited service requirement, to apply for and receive a service retirement annuity based on the member's accumulated contributions and service credit with any participating subdivision from which the person has terminated employment.