Amend Article 6 of Chapter 23 of Title 47.  This bill would provide that retirement benefits would be calculated through a different method for persons who first become a member on or after July 1, 2008 and for persons who again become a member on or after such date, who do not have a vested right to be reinstated in the JRS.  Such members would become eligible for retirement benefits after 16 years of service.  Such members would receive a retirement benefit equivalent o 60 percent, plus 1 percent for each year of service over 16 years, of the member�s salary.  However, no member shall receive more than 24 years.  Additionally, the member would not be entitled to receive benefits under the age of 60.  Members who retire with less than 16 years may retire with a reduced benefit.  This bill authorizes persons who are members on June 30, 2008 to elect to become subject to the provisions outline din this bill; selection must be made by October 30, 2008.