1. (a) A participant who:

   1. (1) ceases service:

      1. (A) as a judge; or

      2. (B) after December 31, 2010, as a judge or full-time magistrate;

         other than by death or disability; and

   2. (2) is not eligible for a retirement benefit under this chapter;

      is entitled to withdraw from the fund, beginning on the date specified by the participant in a written application. The date on which the withdrawal begins may not be before the date of final termination of employment or the date thirty (30) days before the receipt of the application by the board.

2. (b) Upon the withdrawal, the participant is entitled to receive the total sum contributed plus interest at a rate specified by rule by the board, payable within sixty (60) days from the date of the withdrawal application or in monthly installments as the participant may elect.

As added by P.L.98-2004, SEC.17. Amended by P.L.122-2008, SEC.16; P.L.16-2011, SEC.5.