Notwithstanding any general or special law to the contrary, and in order to promote the public good, the state board of retirement shall credit Edward D. Nolan, a member of the Medford school committee, with creditable service for his time rendered to the City of Medford school committee during the period from January 1998 to January 2000 as a member of the Medford school committee or for the purpose of determining his superannuation retirement allowance under Chapter 32 of the General Laws.

Eligibility for this creditable service shall be conditioned upon payment by Edward D. Nolan to the Medford retirement system of an amount equal to the amount that would have been deducted under said Chapter 32 if he had received regular compensation during this period at an annual rate equal to the annual rate of regular compensation that he was receiving for such previous service with regular interest thereon. Such repayment shall be made in one lump sum or in installments as the Medford retirement board shall prescribe.