§ 527. Notwithstanding any other provision of law to the contrary the
retirement board shall determine the annuity payable as of the date of
retirement to each member of the system retired prior to the
twenty-eighth day of August, nineteen hundred fifty-eight, on the basis
of the mortality tables in force either on the first day of July,
nineteen hundred forty or the date such person joined the system,
whichever occurred later, and shall cause any additional amount which
would have been paid from the date of retirement had the annuity been
determined on such basis at retirement, to be paid to any retired
member, his designated beneficiary or estate, provided an application is
filed with the retirement board in the manner prescribed by the
retirement board and thereafter any such annuity as so determined shall
be paid to each such retired member or his designated beneficiary.