Any member of the system who is not a member of the Section 399 plan may elect in the manner provided in Section 2.124.1760 of this chapter to receive the benefits provided by former (1976) Charter Section 354 in lieu of cost-of-living adjustment provided in former (1989) Section 379 of the charter and this article. The provisions of this article shall apply to members making such election, except that the provisions of Section 2.124.1740 of this chapter shall not apply to such members. (Prior code § 34.09.905)