§ 235. Exemptions. Any employee who is receiving or is entitled to
receive old-age insurance benefits under title two of the social
security act, shall be exempt from this article upon filing with the
chairman and his employer a statement, in such form as the chairman
shall prescribe, waiving any and all benefits under this article.
Thereafter such employee shall be exempt from any liability to
contribute toward the cost of such benefits, and his employer shall be
relieved of responsibility to provide for the payment of any benefits to
such employee under this article.