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(a) A public employee, as defined in § 24-4-101(17), first hired on or after July 1, 2005, is subject to the benefit provisions of this subchapter.
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(b)
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(1)
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(A) A public employee who remains an active member of the Arkansas Public Employees’ Retirement System may elect coverage under the benefit provisions of this subchapter.
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(B) If the member elects contributory coverage, the effective date of the member’s contributory coverage shall be:
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(i) The first payroll period that is paid and reported in the next month after the contributory election; and
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(ii) Prospective only.
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(2) A conversion or purchase of noncontributory service into contributory service under this subchapter is not allowed.
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(3) The election shall be made as directed by the Board of Trustees of the Arkansas Public Employees’ Retirement System and is irrevocable.
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(c) Noncontributory members who terminate covered service for a period of more than six (6) months and subsequently return to covered service will be subject to the provisions of this subchapter.