Marvin Mandel, Governor                         893

(2)    The Consumer Price Index to be used for the Fiscal Year in
which the retirement allowance is payable shall be the Consumer
Price Index for the calendar year ending December 31st of the pre-
ceding Fiscal Year.

(3)    The ratio of adjustment of the retirement allowance referred
to in subsection (a) of this section shall be obtained by dividing the
Consumer Price Index in subsection (b) (2) by the Consumer Price
Index in subsection (b) (1) of this section.

(c)    For the purposes of this section the retirement allowance
referred to in subsection (a) of this section, shall be that retirement
allowance elected by the member under Section 53 of this Article,
exclusive of any additional voluntary annuity. This retirement al-
lowance, however, shall not include the supplemental payments made
under Section 56(7) of this Article.

(d)    For the purposes of this section, Consumer Price Index shall
mean the Consumer Price Index (all items—United States City av-
erage), as published by the United States Department of Labor,
Bureau of Labor Statistics.

(e)    In no instance shall any retired member receive less than
the benefits to which he would be entitled under the provisions of
Sections 53 and 56(7) of this Article.

(f)    The allowance of a surviving beneficiary of a retired member
shall, when and if payable, be adjusted by the same ratio as provided
in this section.

(g)    This section shall not apply to benefits payable under Sec-
tions 53(8), 53(9), and 53(10) of this Article.

SEC. 5. AND BE IT FURTHER ENACTED, THAT SECTION
14(7) OF SAID ARTICLE 73B OF THE CODE, SUBTITLE "IN
GENERAL" BE AND IT IS HEREBY REPEALED AND RE-
ENACTED, WITH AMENDMENTS, TO READ AS FOLLOWS:

14.

(7) THE BOARD OF TRUSTEES IS HEREBY AUTHORIZED
AND DIRECTED SUBJECT TO THE ANNUAL APPROPRIA-
TION OF THE NECESSARY FUNDS AND IN ADDITION TO
THOSE PROVIDED IN ACCORDANCE WITH AND IN THE
SAME MANNER AS THAT PROVIDED IN SUBSECTIONS (1),
(2), (3), (4), (5), AND (6), OF THIS SECTION AND SUBJECT
TO THE CONDITIONS HEREINAFTER PROVIDED, TO MAKE
A SUPPLEMENTARY PAYMENT TO ANY BENEFICIARY
[, OR MEMBER WHO MAY BE RETIRED FROM SERVICE IN
THE FUTURE] WHO WAS RETIRED PRIOR TO JULY 1, 1971,
IN ADDITION TO THE BENEFITS PROVIDED IN SECTION
11 OF THIS ARTICLE, ON THE FOLLOWING BASIS:

(A)    WHICH IS NOT LESS THAN THE RATE OF THE SUP-
PLEMENTARY PAYMENT RECEIVED BY ANY BENEFI-
CIARY PRIOR TO JULY 1, 1962, AND

(B)    WHICH, WHEN ADDED TO THE BENEFITS PRO-
VIDED PURSUANT TO SECTION 11 OF THIS ARTICLE IS
NOT LESS THAN $2,000 PER ANNUM; PROVIDED, HOWEVER,