1. If the person so elects, any person receiving benefits pursuant to section 476.530 shall be made, constituted and appointed a special commissioner or referee for and during the remainder of the person’s life, as provided and in the manner set forth in section 476.500. When so appointed the special commissioner or referee shall receive the same compensation as provided by law for special commissioners or referees made, constituted or appointed pursuant to the provisions of section 476.450.

2. If the person so elects, any person receiving benefits pursuant to section 476.545 shall also be made, constituted and appointed a special commissioner or referee for and during the remainder of the person’s life as provided and in the manner set forth in section 476.500. When so appointed, the special commissioner or referee shall be reimbursed for expenses as provided in section 476.490, and shall receive a reduced annual compensation in a sum equal to the proportion of the compensation provided in section 476.450 that the person’s period of service bears to twelve years.

3. Any person electing to become a special commissioner or referee pursuant to this section shall be subject to the provisions of sections 476.460, 476.480, 476.490, 476.510, subdivision (1) of section 476.515, sections 476.537 and 476.590. On the effective date of the person’s election, the person shall cease to be subject to any other provision of sections 476.515 to 476.590.

4. Upon the effective date of this election to become a special commissioner or referee, the special commissioner or referee may make written application to the commissioner of administration for a refund of the person’s contributions pursuant to sections 476.515 to 476.570^*. On receipt of the written application the commissioner of administration shall pay the refund in one lump sum which shall equal the total amount of such contributions pursuant to sections 476.515 to 476.570^*.