(a)

(1) Any firefighter may transfer to the public safety division and, if he or she chooses, participate in the policemen's pension and relief fund.

(2) As a condition precedent to this participation, the firefighter shall withdraw from the firemen's relief and pension fund the amount of his or her contributions and deposit them in the policemen's pension and relief fund, and thereupon receive years of service credit in the policemen's fund for the years served as a firefighter, if the years served as a firefighter were served in the city covered by this section and §§ 14-42-410 -- 14-42-412.

(b) Upon this written application for retirement, the board of trustees of the policemen's pension and relief fund shall place him or her on the pension roll at one-half (1/2) actual compensation based upon his or her highest compensation during his or her time of service as a public safety officer, after having completed not less than twenty (20) years' combined service as a public safety officer and firefighter.

(c) In computing total years of service for retirement, the board of trustees of the policemen's pension and relief fund shall give credit for the time which the public safety officer shall have devoted to full-time duty as a public safety officer and also as a firefighter. However, no public safety officer shall be eligible to receive years of service credit served as a firefighter until he or she has completed a minimum of fifteen (15) years' service as a public safety officer.