A. As of the effective date of the ordinance codified in this chapter, the sum of ten thousand dollars, now in the existing relief and pension fund, and representing the amount placed in such fund by members of the Bakersfield firemen’s relief association and the accumulated interest thereon, shall be apportioned pro rata, according to the years and months of membership in the Bakersfield firemen’s relief association, to the members of the fire department who were members of the relief association between the date of organization of the firemen’s relief association (December, 1921), to the effective date of the present relief and pension fund (January 23, 1931).

B. The moneys so apportioned shall be applied toward the normal and dependent contributions of such members and shall reduce such member’s monthly contributions by such amount monthly as may be arrived at by dividing the amount so due each such member by the number of months of service required for such member to reach the retirement age of fifty-five years. (Prior code § 5.38.110(j))