A member who withdraws from service or ceases to be a member for any reason other than death or retirement shall be paid on demand a refund consisting of the accumulated contributions standing to his or her credit in his or her individual account, without interest. Any member receiving a refund shall thereby forfeit and relinquish all accrued rights as a member of the system together with credits for total service previously granted to the member; provided, however, that if any member who has received a refund shall subsequently reenter the service and again become a member of the system, he or she shall have the privilege of restoring all money previously received or disbursed to his or her credit as a refund of contributions, plus regular interest for the period from the date of refund to the date of the restoration. Upon the repayment of such refund including accrued interest as herein provided, the member shall again receive credit for the amount of total service which he or she had previously forfeited by the acceptance of the refund. The restoration of that credit shall be permitted only after the member shall have rendered at least one year of continuous service following his or her latest reentry into service for which he or she shall have made contributions to this system.