The provisions of section 7 of P.L. 1969, c.169 (C.43:3B-8) shall not apply to R.S. 43:16-1 or section 16 of P.L. 1964, c.241 (C.43:16A-11.1) as amended by P.L. 2001, c. 4(C. 43:15A-100.1 et al.), or to section 4 of that P.L. 2001, c. 4(C.43:15A-100.1), and the annual cost of living adjustment received by retirants and beneficiaries under P.L. 1958, c.143 (C.43:3B-1 et seq.) shall be calculated as of the date of the benefit year of the member of the appropriate pension fund or retirement system.
N.J.S. § 43:3B-8.6