1. (a) Any individual who became a member of the retirement systems based solely on § 36-9-33 (repealed) or who purchased credit in the retirement systems based upon § 36-9-33 (repealed) shall no longer be entitled to membership and/or credit(s) and shall no longer receive any benefits of any type from the retirement systems which were based upon § 36-9-33 (repealed). By January 1, 1995, the retirement system shall return any contributions or purchases made pursuant to § 36-9-33 (repealed) by the individual and/or the individual’s employer with interest at the actuarially assumed rate earned by the retirement systems on its pension funds during the applicable time period since the contributions and/or purchase was made.
2. (b) The return of contributions or purchases shall be offset by any benefits already received by the individual from the retirement system.
3. (c) Nothing in this chapter shall be construed as prohibiting any individual from later becoming a member of the retirement systems or purchasing credits in accordance with applicable law.

History of Section.
P.L. 1994, ch. 413, § 1.