Notwithstanding the provisions of K.S.A. 74-4917 and 74-4937 a member who became a member of the Kansas public employees retirement system on January 1, 1971, who signed an application for membership in the Kansas school retirement system on September 30, 1968, who attained age sixty-five (65) on March 25, 1975, and who has filed a request to withdraw his or her accumulated contributions in one lump sum upon his or her termination of employment rather than drawing monthly retirement benefits, is hereby authorized to withdraw his or her accumulated contributions whereupon no other benefits shall be payable to him or her.
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