A member other than a member who first became a member on or after July 1, 2010 who contributes to the member investment plan, or the retirement allowance beneficiary of that member, shall be entitled to all of the following:

    (a) A 36-month averaging period for the computation of final average compensation, as provided in section 4.

    (b) An annual increase in the retirement allowance. The first increase will occur on the first October 1 that is at least 1 full year after the effective date of the retirement allowance. Subsequent annual increases will occur on October 1 of each subsequent year. The amount of the annual increase shall be equal to 3% of the retirement allowance that would be payable as of the date of the increase without application of this subdivision. However, if the retirement allowance is being paid under section 85(2), the increase shall be based on the retirement allowance that would have been paid under the payment option selected by the member under section 85(1).

    (c) The credited service eligibility requirement applicable to the survivor benefits provided in section 89 shall be reduced as follows:

    (i) The 15 years of credited service requirement shall be 10 years.

    (ii) The 10 years of credited service requirement shall be 5 years.