(1) Eligible employees of state colleges and universities for which no optional retirement plan has been established and eligible employees who do not participate in their employing institution's optional retirement plans shall participate in the association.
Any eligible employee who participates in an optional retirement plan established forsuch eligible employee's employing institution shall be ineligible for membership in the association so long as such eligible employee is employed in any eligible position by a state college or university. In the event an optional retirement plan participant accepts a government position for which an optional retirement plan is not available, such participant shall cease participation in the optional retirement plan at the time of termination of employment in an eligible position and shall begin participation in the association to the extent that participation in the association is otherwise required by law.
(Deleted by amendment, L. 2007, p. 2014, § 9, effective January 1, 2008.)
Source: L. 92: Entire article added, p. 576, § 2, effective July 1. L. 2006: (2) amended and (3) added, p. 1192, § 31, effective January 1, 2008. L. 2007: (2) and (3) amended, p. 2014, § 9, effective January 1, 2008.