(a) Upon written application to the board of trustees, any member in service who has reached 60 years of age or who has 30 years of creditable service may retire on a service retirement allowance, provided that he has at least five years of creditable service; provided, further, that if he became a member after July 1, 1968, he has at least ten years of creditable service. The effective date of retirement shall be the first of the month in which the application is received by the board of trustees, provided that no retirement application will be effective earlier than the first of the month following the final month of the applicant's employment. Applications for retirement will not be accepted more than 90 days in advance of the effective date of retirement. Separation from service pending approval of the retirement application shall not affect eligibility for a retirement allowance. The provisions of this subsection regarding the effective date of retirement shall apply to all persons making application for retirement on or after March 15, 1979, and to all persons who have made application prior to March 15, 1979, but to whom payments from the retirement system have not commenced as of that date.

(b)(1) Effective July 1, 1983, no member of the retirement system may be required to retire because of age except the following members:

(A) Those employed as prison guards by the Department of Corrections;

(B) Those employed by the Uniform Division of the Department of Public Safety as officers and troopers;

(C) Those employed by the Department of Natural Resources as conservation rangers;

(D) Those employed by the Department of Revenue as alcohol and tobacco officers or agents;

(E) Those employed as officers or agents of the Georgia Bureau of Investigation;

(F) Those employed by the Department of Transportation as enforcement officers prior to July 1, 2001;

(G) Those employed by the Department of Motor Vehicle Safety as enforcement officers on or after July 1, 2001; and

(H) Those employed by the State Board of Pardons and Paroles as parole officers as well as other employees of said board who possess the power of arrest.

(2) Those members specified by paragraph (1) of this subsection who may be required to retire because of age shall be subject to the laws specifying retirement ages for the various classifications of such members or subject to the rules, regulations, or policies specifying retirement ages of the various state departments or agencies employing such members, provided such rules, regulations, or policies are in compliance with other laws of this state. Any state department or agency specified in paragraph (1) of this subsection shall be authorized to employ or continue the employment of any member, regardless of age, with professional, scientific, or technical skills who is so certified to the board of trustees by the state department or agency.

(c) Anything in this chapter to the contrary notwithstanding, if a member accepts employment with or renders services to any employer after his retirement, payment of his retirement allowance shall be suspended and no contributions to the retirement system shall be made on account of such service either by that member or his employer, provided that, upon termination of such service, all rights shall vest in that member as if he had continued his option to retire; provided, further, that payment of his retirement allowance shall not be suspended if the employee performs no more than 1,040 hours of service for the employer in any calendar year; provided, further, that no such employee so employed shall be eligible for employee health benefits other than those available to the member as a part of his retirement benefits or for any annual leave, any sick leave, or any other employee benefit available to a state employee in the classified service of the State Merit System of Personnel Administration established by Chapter 20 of Title 45.

(d) The board of trustees is authorized to provide by rule or regulation for the payment of benefits to members or beneficiaries of the retirement system at a time and under circumstances not provided for in this chapter to the extent that such payment is required to maintain the retirement system as a "qualified retirement plan" for the purposes of federal income tax laws.