When the covered member’s former employer is one of the sponsors of a governmental public employee retirement system, the covered member may continue to participate in the same governmental plan if:

(a) The covered member neither participates on nor is in a position to influence the attest engagement team during the entire period he or she participates in the plan

(b) His or her current employer is also one of the sponsors of the same plan and participation is required or offered to all employees in comparable employment positions

(c) The covered member has managerial responsibilities in governmental agency under the supervision of the Securities and Exchange Commission

(d) The covered member has no influence of control over the investment strategy, benefits, or other management activities associated with the plan