(a) A member of the Senate or House of Representatives of the General Assembly who is a member of the Arkansas Teacher Retirement System shall receive credited service and salary in the system for his or her full contract salary if the:

1. (1) School district requires the member’s salary to be reduced during the member’s attendance at:

   1. (A) Regular or extraordinary sessions of the General Assembly; or
   2. (B) Interim meetings of regular or special committees of the General Assembly;
2. (2) Member applies for General Assembly service credit by submitting to the system a completed application form approved by the system;
3. (3) Member pays the system the necessary member contributions; and
4. (4) Required employer contributions are paid to the system for the amount of the salary reduction during periods of the member’s attendance at regular or extraordinary sessions of the General Assembly or sessions of legislative committees.

(b) A member of the Senate or House of Representatives who currently serves in the General Assembly or has served in legislative committees for any year that is within five (5) years of July 6, 1977, shall receive credited service and salary for his or her full contract if the:

1. (1) Member applies for General Assembly service credit by submitting to the system a completed application form approved by the system;
2. (2) Member pays the employee contributions; and
3. (3) Required employer contributions are paid from the Public School Fund to the system for the portion of the contractual period in which the member’s salary was reduced during the member’s legislative service.

(c) A member of the Senate or House of Representatives of the General Assembly who is an employee and member of the system shall receive credited service and salary for his or her full contract salary if:

1. (1) Either the member or school district decides it is in the best interest of the member to take a leave of absence for up to one (1) full calendar year at a time in order for the member to attend his or her duties as a member of the General Assembly; and
2. (2) Both the required employee and employer contributions are paid to the system for the amount of the member’s contract salary during periods in which the member attended sessions of the General Assembly or legislative committees.

(d) At the member’s request, a member’s payment for General Assembly service credit shall be refunded by the system if the:

1. (1) Member ceased to be an active member before the General Assembly service credit is established as credited service in the system; or
2. (2) General Assembly service credit is not otherwise used to establish the member’s eligibility for retirement under the system.