When a State employee is retired under the Vermont Employees' Retirement System and at such time is, under the provision of section 631 of this title, receiving the benefits of group insurance which provides for continuing the insurance after retirement, or is receiving the benefits of any group insurance policy as defined by 8 V.S.A. chapter 107, said employee may in writing, direct the State Treasurer to deduct from his or her monthly retirement allowance his or her premium therefor notwithstanding any prohibition against assignment contained in chapter 16, subchapter 1 of this title. (Amended 1993, No. 34, § 1.)