This section applies to a former member who: was eligible for a retirement allowance under § 24-401 of this subtitle when the former member’s membership terminated; did not submit a written application under § 24-401 of this subtitle before membership terminated; and has not withdrawn accumulated contributions. A former member described in subsection (a) of this section may retire with a retirement allowance under § 24-401 of this subtitle on the first day of the month after the Board of Trustees receives a written application for retirement from the former member. A former member who retires under this section may not receive benefits for the period before the former member submitted a completed application for retirement to the Board of Trustees.