From an appropriation of general revenue funds made annually by the Legislature for this purpose and as an additional supplement to other retirement allowances, each annuitant whose retirement allowance became effective during the respective dates indicated in this section shall receive, upon application, an amount which is the product of his present retirement allowance, including all of the supplemental benefits provided in the preceding section of this article, multiplied by the percentage increase applicable, according to the effective date of retirement and according to the plan of retirement, as provided by the schedule below.
Effective Date Percentage of Retirement
of Retirement Allowance Increase
July 1, 1941 through June 30, 1953 13.50%
July 1, 1953 through June 30, 1963 15.25%
July 1, 1963 through June 30, 1965 12.25%
July 1, 1965 through June 30, 1966 9.00%
July 1, 1966 through June 30, 1968 8.75%
July 1, 1968 through June 30, 1969 5.50%
July 1, 1969 through June 30, 1970 8.25%
Any additional benefit conferred herein shall not be retroactive to the time of retirement, but shall be paid beginning the first day of July, one thousand nine hundred seventy-five.