a. (1) Should a beneficiary receiving or entitled to receive a retirement allowance under the provisions of section 13-349 or 13-350 of this subchapter, and who was an improved benefits plan member at the time of his or her last retirement, re-enter city-service, his or her retirement allowance and his or her pension-providing-for-increased-take-home-pay, if any, shall cease.
(2) If he or she had not served the period of service elected by him or her, he or she shall again become a member of the pension fund as an improved benefits plan member. Except as otherwise provided in paragraph three of this subdivision a, if he or she has served the minimum period of service elected by him or her, he or she may file a duly executed and acknowledged application therefor within ninety days after his or her return to service and thereupon again become a member of such fund as an improved benefits plan member.
(3) In the case of any such beneficiary who is appointed fire commissioner or a deputy fire commissioner, he or she shall again become a member of the pension fund as an improved benefits plan member and shall remain such a member while serving as fire commissioner or deputy fire commissioner.
(4) The annuity reserve of any such member whose membership is restored as above provided in this section shall be transferred to his or her credit in the annuity savings fund, and he or she shall contribute to such fund as if he or she were a new entrant.
(5) Upon the subsequent retirement of any such member whose membership is restored as above provided in this section and who, as such restored member, is an improved benefits plan member not subject to article eleven (as defined in subdivision four-i of section 13-313 of this subchapter), he or she shall be credited with all of his or her service as a member subsequent to his or her last restoration to membership and shall receive a retirement allowance therefor as if he or she were a new entrant, which retirement allowance shall be determined pursuant to the applicable provisions of this subchapter governing the granting of such a retirement allowance to an improved benefits plan member not subject to article eleven.
(6) Where any such member whose membership is restored as above provided in this section is, as such restored member, an improved benefits plan member subject to article eleven (as defined in subdivision four-j of such section 13-313), he or she shall, upon his or her subsequent retirement, be credited with all of his or her service as a member subsequent to his or her last restoration to membership and shall receive a retirement allowance therefor as if he or she were a new entrant, which retirement allowance shall be determined pursuant to the applicable provisions of this subchapter governing the granting of such a retirement allowance to an improved benefits plan member subject to article eleven.
(7) A retirement allowance determined pursuant to the applicable provisions of subdivision five or subdivision six of this section shall be payable in such form as such member entitled thereto shall select under section 13-370 of this subchapter.
(8) In lieu of suspension during restoration to city-service of any benefits payable in the event of his or her death by reason of any optional selection in respect to his or her pension and the pension-providing-for-increased-take-home-pay, if any, a beneficiary who was an improved benefits plan member at the time of his or her last retirement prior to his or her last restoration to city-service may pay to the fund or funds from which his or her ordinary pension and his or her pension-providing-for-increased-take-home-pay, if any, were payable, the amount by which his or her ordinary pension and the pension-providing-for-increased-take-home-pay, if any, exceeded the optional pension and the pension-providing-for-increased-take-home-pay, if any, heretofore granted to him or her, in which event such optional benefit shall continue and be payable in the event of his or her death as though no payment were suspended.
(9) In addition, upon his or her subsequent retirement, any such member who again becomes a member as an improved benefits plan member under the applicable provisions of paragraphs one, two, three and four of this subdivision shall receive the pension and the pension-providing-for-increased-take-home-pay, if any, which he or she was receiving or entitled to receive immediately prior to his or her last restoration.
(i) Subject to the provisions of subparagraph (iv) of this paragraph ten, the termination of his or her earlier retirement allowance, as provided for by such section 13-371 shall not be affected by such election and shall continue in effect while such member remains in city-service.
(ii) The accumulated contributions of such member as an original plan member shall remain in the retirement allowance reserve fund and shall not be transferred to his or her credit in the annuity savings fund. On and after the effective date of his or her election to become an improved benefits plan member, he or she shall contribute to the pension fund as if he or she were a new entrant as an improved benefits plan member.
(iii) Upon the subsequent retirement of any such member who, as a restored member, is an improved benefits plan member by reason of such election, he or she shall be credited with all of his or her service as a member subsequent to his or her last restoration to membership and he or she shall receive a retirement allowance therefor determined pursuant to the applicable provisions of paragraph five or paragraph six of this subdivision, which retirement allowance shall be payable in such form as he or she shall select under section 13-370 of this subchapter.
(iv) Upon becoming entitled to a retirement allowance as provided for by subparagraph (iii) of this paragraph, he or she shall receive, in addition to such retirement allowance, the retirement allowance, if any, which he or she was receiving or entitled to receive as an original plan retiree immediately prior to his or her last restoration.
b. (1) Subject to the provisions of paragraphs two and three of this subdivision b:
(i) where any beneficiary mentioned in subdivision a of this section, other than a beneficiary serving as fire commissioner or deputy fire commissioner, shall have earned at least five years of member credit for service in the uniformed force of the fire department after restoration to active service; and
(ii) where any beneficiary serving as fire commissioner or deputy fire commissioner shall have earned at least three years of member credit for service during restoration to membership pursuant to this section; the total service credit to which any such restored member above referred to in this paragraph one was entitled at the time of his or her earlier retirement may, at his or her election, again be credited to him or her and upon his or her subsequent retirement he or she shall be credited in addition with all member service earned by him or her subsequent to his or her last restoration to membership.
(2) Such total service credit to which any such restored member referred to in paragraph one of this subdivision b was entitled at the time of his or her earlier retirement shall be credited as provided in such paragraph one only in the event that he or she returns to the pension fund with regular interest the actuarial equivalent of the amount of the retirement allowance he or she received; provided, however, that in the event that such amount is not so repaid, the actuarial equivalent thereof shall be deducted from his or her subsequent retirement allowance.
(3) In any case where any restored member who is eligible for and elects the crediting of his or her total service credit (to which he or she was entitled at the time of his or her earlier retirement) pursuant to the provisions of paragraphs one and two of this subdivision b became an improved benefits plan member by election made pursuant to the provisions of section 13-315 of this subchapter after his or her restoration to membership, he or she shall, upon his or her subsequent retirement, receive for such total service credit a retirement allowance determined pursuant to the provisions of section 13-359 of this subchapter, and he or she shall not receive any other retirement allowance or benefit for such total service credit.