(

a) A member who retired for service between June 1, 2007, and December 31, 2007, inclusive, may elect to purchase credit for out-of-state service for either of the following:

(1) Service performed as an employee of an educational institution located outside of the United States and its territories that receives a portion of its funding from any foreign or domestic public sources and provides a level of education comparable to kindergarten and grades to 12, inclusive, as determined by the applicable law of the jurisdiction in which the educational institution is located.

(2) As an employee of an educational institution that receives funds under

Section of Title of the United States Code. (

b) The member may not receive credit for service pursuant to this

section if the member retains or is eligible to receive credit for the same service in the Cash Benefit Program under

Part 14 (commencing with

Section 26000) or another public retirement system, excluding social security. (

c) The amount of service for which a member may purchase credit may not exceed the number of years of service performed by the member in a position described in subdivision (

a) prior to that member’s effective retirement date. (

d) Compensation for out-of-state service may not be used in determining the highest average annual compensation earnable when calculating final compensation. (

e) The service credit purchased pursuant to this

section may not be used to meet the eligibility requirements for benefits provided pursuant to Sections and 24101.