19-9-403. Application to purchase military service. (1) Except as otherwise provided in this section and subject to 19-9-406, a member with at least 15 years of service credit may, at any time prior to retirement, file a written application with the board to purchase up to 5 years of the member's active duty service in the armed forces of the United States for the purpose of calculating retirement benefits.
     (2) To purchase this military service, the member shall pay the actuarial cost of the member's military service, based on the system's most recent actuarial valuation.
     (3) The member may not purchase more military service than the member's years of membership service in excess of 15 years.
     (4) A member is not eligible to purchase military service under this section if the member:
     (a) has retired from active duty in the armed forces of the United States with a military retirement benefit based on that military service;
     (b) is eligible, pursuant to 19-2-707, to receive credit in the system for that service; or
     (c) is eligible to receive credit for that service in any other retirement system or plan.

     History: En. 11-1842.1 by Sec. 1, Ch. 368, L. 1977; R.C.M. 1947, 11-1842.1; amd. Sec. 2, Ch. 178, L. 1991; amd. Sec. 193, Ch. 265, L. 1993; amd. Sec. 38, Ch. 58, L. 1999; amd. Sec. 102, Ch. 99, L. 2001.