5.3. The agreement between the teacher and his employer shall terminate in the case of any of the following circumstances:(1) the teacher’s death;
(2) the teacher voluntarily ceases to participate in the plan later than one year after the date fixed for the beginning of the agreement;
(3) the teacher is laid off, dismissed or holds pensionable employment with another department, agency or employer, unless in the latter case the new department, agency or employer agrees to continue the agreement;
(4) the teacher and the employer decide jointly to terminate the agreement later than one year after the date fixed for the beginning of the agreement;
(5) the teacher becomes covered by the Pension Plan of Certain Teachers or by the Pension Plan of Peace Officers in Correctional Services;
(6) the disability of the teacher continues for more than 2 years if, during his disability, he was eligible for salary insurance under a salary insurance plan other than the plan referred to in the second paragraph of section 18 of the Act.