In each city, as defined by this act, an employees’ retirement system shall be and is hereby created, set apart, maintained and administered in the manner prescribed in this act, for the benefit of employees of such city, and the widows, widowers, children and dependent parents of such employees; and also of all contributors to, participants in and beneficiaries of any pension fund in operation in such city, at the time this act shall become effective, under and by virtue of article 2, chapter 13, Title 43 of the Revised Statutes; and of chapter 18, Title 43 of the Revised Statutes; and of chapter 19, Title 43 of the Revised Statutes.

L.1954, c. 218, p. 809, s. 2.