On and after July 1, 1998, any vested member of the public employee retirement system of Idaho may, within thirty (30) days of becoming a justice of the supreme court, judge of the court of appeals or district judge in the state of Idaho, make a one-time irrevocable election to continue participation as an active member of that system in lieu of participation in the judges’ retirement fund established in this chapter and the justice, judge or spouse shall not be entitled to any compensation, benefits or allowances under any provision of this chapter. An election must be in writing and must be provided to both the supreme court and the public employee retirement system of Idaho. Once an election is made, all service as justice or judge, including noncontinuous service, shall be accrued to the public employee retirement system of Idaho, and shall be governed under the provisions of that system, except as provided in section 1-2005, Idaho Code.