(a) Whether elected or appointed to office, all chancery, circuit, and circuit-chancery judges, judges of the Court of Appeals, and justices of the Supreme Court shall participate in the Arkansas Judicial Retirement System.
(b) A person who becomes a member of the system on or after July 30, 1999, shall participate in the Tier Two Actual Judicial Service Benefit Plan for the system.
(c) Any active member who was a member of the system before July 30, 1999, shall have until the end of the term of office in which the member is serving on July 30, 1999, to elect coverage under the benefit provisions of this subchapter. A former member who was an active member on December 31, 1998, shall have until July 31, 1999, or ninety (90) days after July 30, 1999, whichever is later, to elect coverage under the benefit provisions of the subchapter. The election shall be made as directed by the Board of Trustees of the Arkansas Judicial Retirement System and shall be irrevocable.