(1) A firefighter service employee serving as the chief of any fire department or district is excluded from coverage under this system if that firefighter service employee files a formal written request seeking exemption.
(2) The chief of any fire department or district who retires from that position shall comply with the provisions of Section 49-11-504 and Chapter 11, Part 12, Postretirement Reemployment Restrictions Act, upon reemployment by the participating employer.