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I <br />=-f <br />-B. NO. <br />chapter providing for benefits arising out of the disability or <br />2 death of a member. A retirant who returns to service and dies <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />during the period of reemployment shall be considered to have <br />retired again effective as of the first day of the month <br />following the month in which the death occurs, except for death <br />during the month of December when the effective date of <br />retirement may be the last day of the month. <br />(f) There is a deferred retirement option ,program for <br />police officers. A -police officer who has reached the service <br />requirements for normal retirement is eligible to enter the <br />deferred retirementoptionprogram. Once enrolled in the <br />deferred retirement option program, the enrollee's service and <br />benefit levels are locked as of the effective date of <br />enrollment. Pension payments for deferred retirement option <br />program enrollees will be deposited to a deferred retirement <br />option program account each month with investment earnings or <br />losses at a rate equal to the pension Alan's actual investment <br />return, net of investment expenses, and will be paid upon <br />termination from the program in accordance with rules adopted by <br />the board. Police officers enrolled in the deferred retirement <br />option program must enroll within twelve months of eligibility <br />for normal retirement. Enrollees may participate for a maximum <br />