An individual is eligible to participate in the program only if the individual: is eligible for membership in a retirement system or a pension system; has not previously participated in a State system as an employee of an employing institution or any other unit of State government; and is: a member of the faculty of an employing institution; a professional employee at a community college or regional community college established under Title 16 of the Education Article; an employee of the University System of Maryland who is in a position designated as exempt under a policy adopted by the University System of Maryland Board of Regents; an employee of Morgan State University who is in a position designated as executive or professional administrative by the Board of Regents of Morgan State University; an employee of St. Mary’s College of Maryland who is in a position determined by the Board of Trustees of the College to be an exempt position; or an employee of the Maryland Higher Education Commission who is in a position determined by the Secretary of Higher Education to be a professional position. This subsection applies to an individual who: on August 22, 2004, was eligible to participate in the program; and is in a position that, as of August 23, 2004, was reclassified by the University System of Maryland Board of Regents or the Board of Regents of Morgan State University and would no longer be eligible for participation in the program under subsection (a) of this section. An individual described under paragraph (1) of this subsection shall continue to participate in the program if the individual: would otherwise be eligible for membership in a system under the State Retirement and Pension System; and is employed by an employing institution. This subsection applies to an individual who: is in a position that was eligible to participate in the program but was reclassified by the governing board of the individual’s employing institution or the Secretary of Higher Education to a position that would no longer be eligible for participation in the program under subsection (a) of this section; and was a participant in the program on the date immediately preceding the reclassification. An individual described under paragraph (1) of this subsection shall continue to participate in the program if the individual: would otherwise be eligible for membership in a system under the State Retirement and Pension System; and is employed by an employing institution.

An election to participate in the program shall be made by an eligible employee at commencement of employment. An eligible employee’s election to participate in the program is a one–time irrevocable election. An individual who previously participated in a State system as an employee of an employing institution or any other unit of State government may not elect to participate in the program.

An eligible employee shall elect to: join a pension or retirement system in accordance with the provisions of this Division II applicable to that system; or participate in the program. An eligible employee shall: make an election under this section in writing; and file the election with the Board of Trustees and the employing institution at commencement of employment. An eligible employee’s election under this section is a one–time, irrevocable election. The effective date of the election shall be the day of commencement of employment.

Unless an eligible employee transferred to a pension system on or before July 1, 1981, the eligible employee may not elect to participate in the program after transferring to a pension system.

This section applies only to a State employee who is appointed, promoted, transferred, or reclassified to a position in which an employee would be eligible to participate in the program. A State employee described in subsection (a) of this section may not elect to participate in the program.

An election of the program by an eligible employee is only effective when the election is accompanied by an appropriate application, if required, for the issuance of an annuity contract under the program.

This subsection applies to an election to participate in the program made on or before June 30, 2017. Except as otherwise provided in this section, an election to participate in the program is a waiver of all rights and benefits provided by the retirement or pension system in which the participating employee was a member on the effective date of the election. For the purpose of determining eligibility for immediate vested rights or benefits in a retirement system or pension system, an eligible employee who is a member of that State system when the employee elects to participate in the program is deemed to have separated from employment on the effective date of the election. The Board of Trustees may only compute retirement system or pension system benefits on the basis of years of creditable service as a member of that State system. This paragraph applies only to a participating employee whose last employer prior to joining the program was a participating employer that does not participate in the employer pick–up program as defined in § 414(h)(2) of the Internal Revenue Code. A participating employee may withdraw any accumulated contributions in the annuity savings fund on or after the effective date of the participating employee’s election to join the program. If a participating employee withdraws the accumulated contributions, the participating employee forfeits any right to a benefit in the State system from which the accumulated contributions were withdrawn. A participating employee is ineligible for membership in a retirement system or pension system while the participating employee is employed in any eligible position by any employing institution. A participating employee who is subsequently appointed, promoted, or transferred to another position that is eligible for membership in a State system but is not eligible for participation in the program shall participate in a State system with respect to that position as a condition of employment.