(A)

1. (1) A member who has at least twenty-five years of creditable service in any retirement system provided in this title may elect to receive up to five years of additional service credit as though the additional service credit were rendered by the member as an employee or member by paying into the member's retirement system the amount provided in this item. The required amount is determined by multiplying the member's current salary or the highest fiscal year salary in the member's work career, whichever is greater, by the percentage provided in this item and multiplying the result by the number of years credited, prorated for periods less than one year. The applicable percentage of salary to calculate the payment allowed pursuant to this subsection is as follows:

   1. (a) not more than one year 58 percent
   2. (b) over one year but not more than two years 54 percent for each year
   3. (c) over two years but not more than three years 50 percent for each year
   4. (d) over three years, but not more than four years 46 percent for each year
   5. (e) over four years 42 percent for each year

   Years to be Credited Percentage of Salary

2. (2) The member also shall pay the employer and employee cost for health and dental insurance for a time period equal to the period of service credit purchased, or until the date the member attains age sixty, at which time the member becomes eligible for employer-paid health and dental insurance.
3. (3) Any service credit purchased under this subsection qualifies the member for retirement and the member must retire within ninety days after the purchase.

(B) As an alternative to the option provided in subsection (A) the member, if he has at least twenty-five years of creditable service, may elect to receive up to five years of additional service credit as though the additional service credit were rendered by him as an employee or member upon paying into his retirement system, during the ensuing number of years he wishes to purchase in the manner the Comptroller General shall direct, the employer and employee contributions that would be due for the position that he presently holds at the salary level in effect during those years. If the position is consolidated or eliminated after the member's retirement, he shall pay the employer and employee contributions during the remaining required years at a level equal to what these contributions were for the position before its consolidation or elimination. The member also shall pay the employer and employee cost for health and dental insurance in effect during the ensuing years the member wishes to purchase. The additional service credit qualifies the member for retirement and the member must retire within ninety days subsequent to electing the option provided by subsection (B). The salary level of the position the member presently holds, during the ensuing years the member pays the employer and employee contributions, is attributable to the member for purposes determining the member's average final compensation.

The retirement benefits of the member shall not commence until the time benefits would have been paid when the member had completed thirty years of service.